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RE: EL Rate Cut System - Why ?



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Good afternoon, folks.

What makes you think they had no intention of leaking it? Believe me, the 
treasury has a very long history of using market leaks to start the ball 
rolling. A great example was the 1985 plaza accord in the currencies...some 
people knew because they were told several days before hand. If the Fed's 
interest was to help turn the stock market around, they aren't above using 
any tool available to them.

Have a great weekend, folks.

Tim Morge


At 03:32 PM 4/20/01 -0500, Sean O'Toole wrote:
>Jack,
>
>I wouldn't necessarily look at outsiders.  The FED has conference calls all
>too often for anyone in the know on the outside to determine which, if any,
>calls relate to policy decisions.
>
>Sean