President Boris Yeltsin, showing no trace of his recent illness, sent a strong warning to radical reformers on Friday with hints of a possible Cabinet reshuffle and made more conciliatory gestures toward the opposition.

In a radio address summing up the year, he said the radicals had forgotten the needs and feelings of ordinary people in their rush for the market.Yeltsin mentioned no names but his remarks should ring alarm bells in the camp of First Deputy Prime Minister Anatoly Chubais, an avid marketeer overseeing economic reforms.

"Today it has become clear for most people there have been few (economic) achievements," he said.

"We will correct mistakes and draw the necessary conclusions," he said.

He continued in a language very similar to that used by Chubais' most powerful enemy, media and business tycoon Boris Berezovsky, who accuses Chubais of "Bolshevik" methods.

"(Communist) Party slogans have been replaced by macroeconomic ones," Yeltsin said.

Chubais has spearheaded Russia's ambitious privatization campaign since reforms started in 1992.

When he was brought back into the Cabinet last March as first deputy premier and finance minister, he was responsible for monetary policy and macroeconomic reforms.

The 42-year-old Chubais lost his finance ministry portfolio last month after he and some of his allies accepted fees of $90,000 each for a book that has not been yet published.

The original publisher was linked to a business empire that Berezovsky and some other business magnates accuse Chubais of favoring. Chubais has denied any favoritism.

He did offer to resign over the scandal but Yeltsin kept him as a deputy to veteran premier Viktor Chernomyrdin, apparently for purely pragmatic reasons.

Yeltsin needed Chubais to help keep the Kremlin's promise to pay a huge backlog of wages to millions in the public sector by Jan. 1.

Chubais, widely respected in the West, was also instrumental in talks over the release of fresh funds to Russia by the International Monetary Fund and the World Bank.

Now that the debts, at least those of the federal budget, have almost all been paid and the international lending institutions are ready to disburse the credits, Yeltsin might think the political inconvenience of keeping Chubais is too great.