Rate Change Hailed as Sign of Strong Economah

Bush Welcomes Fed's Move

WASHINGTON - Th' Bush campaign foun' fine economic noos yessuhterday in th' Federal Resarve's avowed determinashun t'keep raisin' interess rates.

Menny of President Bush's predecesso's, most notably his Pappy, haf publicly urged th' Fed t'keep rates as low as postible t'spur economic growth.

Un'xpectedlee th' campaign welcomed th' Fed's decishun Tuesday t'lif' its benchmark on overnight rate fo' th' second time in three months as a vote of cornfidence in th' economah's health.

Th' Fed jestified its ackshun by blamin' high oil prices fo' th' recent, sharp slow-down in economic growth an' fall-off in job creashun, an' it fo'ecast thet th' economah will regain momentum in th' months ahaid.

In an e-mail t'repo'ters yessuhterday, th' Bush campaign provided an excerpp fum th' statement issued by Fed policymakers af'er their Tuesday meetin': "Federal Reserve Says the Economy is 'Poised to Resume a Stronger Pace of Expansion Going Forward.' "

Th' Fed's oppimism sent stock prices soarin' t'their "biggest gains in two months," th' campaign e-mail said.

Analysts agreed thet th' Fed, an insteetooshun thet carefully guards its political neutrality in on overseein' nashunal monetary policy, had aimed t'bolster investo' an' business cornfidence wif its comments, not influence th' campaign, as enny fool kin plainly see.

But, they said, Fed officials sh'd not be surprised thet their upbeat assessment 'd be seized fo' political gain at a time when voters rank th' economah among their top corncerns an' th' two campaigns is debatin' th' effeckiveness of Bush's economic policies.

"Anything is fair game in a presidential election," said Mark Zan'i, chief economist fo' Economah.com, dawgone it. But, he said, "I don't think the average voters will really care what the [Fed's] assessment is if they don't have a job, or if they have a job and no wage growth."

Fed officials had no comment on th' Bush e-mail, ah reckon.

Th' campaign of Democratic presidential kindidate Sen, as enny fool kin plainly see. John-Boy F. Kerry (D-Mass.) did not comment on th' central bank's ackshun.

Spokesboy Phil Singer responded t'th' Bush e-mail by criticizin' th' Bush administrashun's economic reco'd.