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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: BRANDYBGOOD who wrote (48467)	6/3/1999 7:01:00 PM
From: backman	Respond to of 90042

Brandy...street story re: alice and the FED Alice Doesn't Work There Anymore By David A. Gaffen Staff Reporter 6/3/99 5:03 PM ET Federal Reserve Vice Chairwoman Alice Rivlin said Thursday she would resign to join the Brookings Institution, a Washington-based think tank, the Fed said. Rivlin, a three-year veteran of the Fed, was regarded as the Fed's most dovish governor, meaning she favored a less restrictive monetary policy. She won't attend the next Fed meeting, a two-day affair beginning June 29. Many observers expect the Federal Open Market Committee, noting the economy's continued vigor, to act at the meeting to push the fed funds target above its current 4.75%. Rivlin's resignation removes from the deliberations a governor who might have been expected to argue against tightening monetary policy. With Rivlin's resignation, the Fed's Board of Governors now has two open spots. Susan Phillips resigned in June of last year. Rivlin, who was a founding member of the Congressional Budget Office, vacates a term that was set to expire in 2010. david