Rate cut leaves global investors wanting more

Pensions & Investments,  October, 1998  by Kelly, Bruce

Tags: cash position, equity, Federal Reserve Board, investor

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Bruce Kelly When the Federal Reserve cut a key lending rate by 25 basis points last week, global investors were left expecting - and wanting - more. Fed Chairman Alan Greenspan had hinted at cuts in his September testimony before the Senate Banking Committee. But money managers and pension fund executives read the cut as confirmation that his attention had turned away from the threat of inflation to that of recession.

'Our view is we might see another rate cut at the next Fed meeting' in November, said Steven Kornrumpf, director for the $63.6 billion New Jersey Division of ...

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