41.   For bondholders, the increase in jobs pointed to a rebound in the economy that may accelerate inflation and keep the Fed from cutting rates.

42.   George previously was opposed to cutting rates, at odds with Clarke.

43.   He also saw no inflation dangers that would bar the Fed from cutting rates further.

44.   He said he wanted to see underlying inflation and wage growth slow before cutting rates.

45.   If the Fed keeps cutting rates, however, the yield curve probably would steepen and those options would become more valuable.

46.   In addition, the FOMC is losing one of its most vocal proponents of cutting rates to shore up the economy.

47.   In cutting key rates so sharply, the Bundesbank had its domestic reasons.

48.   In fact, I have plenty of leeway to keep cutting rates, and I probably will.

49.   In this case, Greenspan decided on Tuesday to hold a conference call among members of the committee Wednesday morning to discuss cutting rates immediately.

50.   Incomplete information could cause the central bankers to hold back on cutting rates rather than take action that later statistics could call into question, some analysts say.