Printer Friendly

FEDERAL OPEN MARKET COMMITTEE DIRECTIVE.

The Federal Open Market Committee at its meeting on December 19, 2000, decided to maintain the existing stance of monetary policy, keeping its target for the federal funds rate at 6 1/2 percent.

The drag on demand and profits from rising energy costs, as well as eroding consumer confidence, reports of substantial shortfalls in sales and earnings, and stress in some segments of the financial markets, suggest that economic growth may be slowing further. While some inflation risks persist, they are diminished by the more moderate pace of economic activity and by the absence of any indication that longer-term inflation expectations have increased. The Committee will continue to monitor closely the evolving economic situation.

Against the background of its long-mn goals of price stability and sustainable economic growth and of the information currently available, the Committee consequently believes that the risks are weighted mainly toward conditions that may generate economic weakness in the foreseeable future.
COPYRIGHT 2001 Board of Governors of the Federal Reserve System
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Federal Reserve Bulletin
Article Type:Brief Article
Geographic Code:1USA
Date:Feb 1, 2001
Words:156
Previous Article:Industrial Production and Capacity Utilization for December 2000.
Next Article:STATEMENT ON THE RESIGNATION OF ARTHUR LEVITT AS SEC CHAIRMAN.
Topics:


Related Articles
Minutes of the Federal Open Market Committee meeting of May 18, 1993.
Minutes of the Federal Open Market Committee meeting.
Minutes of the Federal Open Market Committee meeting of December 21, 1993.
Minutes of the Federal Open Market Committee meeting on February 3-4, 1994.
Minutes of the Federal Open Market Committee Meeting held on May 17, 1994.
Minutes of the Federal Open Market Committee meeting held on July 5-6, 1994.
Minutes of the Federal Open Market Committee meeting held on November 15, 1994.
Minutes of the Federal Open Market Committee Meeting held on December 20, 1994.
Minutes of the Federal Open Market Committee Meeting held on November 15, 1995.
FEDERAL OPEN MARKET COMMITTEE DIRECTIVE.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters