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I believe that the Fed has no choice but to hike. This month and August
will be its last
chance before the election and the economy has showed no sign of slowing.
It cannot afford not to hike. Greenspan has tolerated high valuations in
the equity markets and now he thinks that he is doing us a favor to trade
off unrealistic valuations for his relentless inflation fight. Fifty basis
points could be the right number for its last rate hike of the year. Just
my guess.
Marlowe
----- Original Message -----
From: Monte C. Smith <mcs@xxxxxxxxxxx>
To: Omega-List <omega-list@xxxxxxxxxx>
Sent: Sunday, June 18, 2000 9:17 PM
Subject: Prediction
> The FOMC meets next on Tuesday, the 27th, I believe. I predict, based
> upon the cumulative inertial effects of previous rate hikes, and the
> inability to clearly measure the inertial rate of effects of these hikes
> in the economy, the Fed will not move at this meeting. (I wouldn't place
> any bets on it,one way or the other, though).
>
> Regards,
> Monte
>
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