Those wizards who forecast everything from Federal Reserve moves to year-end market results? Don't follow what they say On Feb. 23, wayne angell, chief economist at Bear Stearns and a former Federal Reserve governor, predicted that the Fed would cut interest rates in advance of the board's regularly scheduled Mar. 20 meeting. Believers bought, fighting the tape most of the way. The Dow Jones industrial average, at one point down 232, ended the session off 88 points.
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