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Message subject : The Fed cut rates

This message was posted by bill on January 04, 2001 :

Wednesday's surprise rate cut brought euphoria back to Wall Street, but
will it last? The fact that the Fed cut rates by 50 basis points before the
January FOMC meeting and ahead of Friday's employment report shows
Greenspan is concerned about a possible recession. The rate cut won't do
much, if anything, for the economy for at least six months. Fourth-quarter
earnings, to be released in the coming weeks, should reflect the slowing
economy and could dampen the enthusiasm of lower interest rates.

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