<%@ Language=VBScript %> <% Response.Write(cszCSS) %> Detailed Report
Key Fed Facts

Federal Reserve System
Federal Reserve Policy Actions
Key FOMC Dates For 1999



Federal Reserve Policy Actions, 1990 - present

1990  1991  1992  1993  1994  1995  1996  1997  1998  1999

1990
FOMC Meeting Directive Bias Vote Policy Change Fed Funds Target Change Discount Rate Change
2/6 & 2/7 Maintain Symmetrical 8 to 3   8.25   7.00  
3/27 Maintain Symmetrical 9 to 2   8.25   7.00  
5/15 Maintain Symmetrical 10 to 1   8.25   7.00  
7/2 & 7/3 Maintain Easier 11 to 0   8.25   7.00  
        7/13 8.00 -0.25    
8/21 Maintain Easier 11 to 0   8.00   7.00  
10/2 Maintain Easier 7 to 4   8.00   7.00  
        10/29 7.75 -0.25    
11/13 Decrease slightly Easier 11 to 0   7.75   7.00  
        11/14 7.50 -0.25    
        12/7 7.25 -0.25    
12/18 Decrease slightly Easier 11 to 0   7.25   7.00  
        12/19 7.00 -0.25 6.50 -0.50
        1/9 6.75 -0.25    
        2/1 6.25 -0.50 6.00 -0.50

1991
FOMC Meeting Directive Bias Vote Policy Change Fed Funds Target Change Discount Rate Change
2/5 & 2/6 Maintain Easier 11 to 0   6.25   6.00  
        3/8 6.00 -0.25    
3/26 Maintain Symmetrical 10 to 0   6.00   6.00  
        4/30 5.75 -0.25 5.50 -0.50
5/14 Maintain Symmetrical 10 to 0   5.75   5.50  
7/2 & 7/3 Maintain Symmetrical 10 to 0   5.75   5.50  
        8/6 5.50 -0.25    
8/20 Maintain Easier 10 to 0   5.50   5.50  
        9/13 5.25   5.00  
10/1 Maintain Easier 10 to 0   5.25   5.00  
        10/31 5.00 -0.25    
11/5 Decrease somewhat Easier 8 to 2   5.00   5.00  
        11/6 4.75 -0.25 4.50 -0.50
        12/6 4.50 -0.25    
12/17 Maintain Easier 11 to 1   4.50   4.50  
        12/20 4.00 -0.50 3.50 -1.00

1992
FOMC Meeting Directive Bias Vote Policy Change Fed Funds Target Change Discount Rate Change
2/4 & 2/5 Maintain Easier 12 to 0   4.00   3.50  
3/31 Maintain Easier 12 to 0   4.00   3.50  
        4/9 3.75 -0.25    
5/19 Maintain Symmetrical 12 to 0   3.75   3.50  
6/30 & 7/1 Maintain Easier 10 to 2   3.75   3.50  
        7/2 3.25 -0.50 3.00 -0.50
8/18 Maintain Easier 10 to 2   3.25   3.00  
        9/4 3.00 -0.25    
10/6 Maintain Easier 8 to 4   3.00   3.00  
11/17 Maintain Easier 9 to 3   3.00   3.00  
12/22 Maintain Symmetrical 12 to 0   3.00   3.00  

1993
FOMC Meeting Directive Bias Vote Policy Change Fed Funds Target Change Discount Rate Change
2/2 & 2/3 Maintain Symmetrical 12 to 0   3.00   3.00  
3/23 Maintain Symmetrical 10 to 2   3.00   3.00  
5/18 Maintain Tighter 10 to 2   3.00   3.00  
7/6 & 7/7 Maintain Tighter 11 to 1   3.00   3.00  
8/17 Maintain Symmetrical 12 to 0   3.00   3.00  
9/21 Maintain Symmetrical 12 to 0   3.00   3.00  
11/16 Maintain Symmetrical 12 to 0   3.00   3.00  
12/21 Maintain Symmetrical 10 to 2   3.00   3.00  

1994
FOMC Meeting Directive Bias Vote Policy Change Fed Funds Target Change Discount Rate Change
2/3 & 2/4 Increase slightly Symmetrical 10 to 0 2/4 3.25 +0.25 3.00  
3/22 Increase slightly Symmetrical 8 to 2 3/22 3.50 +0.25 3.00  
        4/18 3.75 +0.25 3.00  
5/17 Increase somewhat Symmetrical 10 to 0 5/17 4.25 +0.50 3.50 +0.50
7/5 & 7/6 Maintain Tighter 10 to 1   4.25   3.50  
8/16 Increase somewhat Symmetrical 12 to 0 8/16 4.75 +0.50 4.00 +0.50
9/27 Maintain Tighter 11 to 1   4.75   4.00  
11/15 Increase significantly Symmetrical 12 to 0 11/15 5.50 +0.75 4.75 +0.75
12/20 Maintain Tighter 11 to 1   5.50   4.75  

1995
FOMC Meeting Directive Bias Vote Policy Change Fed Funds Target Change Discount Rate Change
1/31 & 2/1 Increase somewhat Symetrical 12 to 0 2/1 6.00 +0.50 5.25 +0.50
3/28 Maintain Tighter 11 to 0   6.00   5.25  
5/23 Maintain Symmetrical 11 to 0   6.00   5.25  
7/5 & 7/6 Decrease slightly Easier 10 to 1 7/6 5.75 -0.25 5.25  
8/22 Maintain Symmetrical 11 to 0   5.75   5.25  
9/26 Maintain Symmetrical 11 to 0   5.75   5.25  
11/15 Maintain Symmetrical 10 to 1   5.75   5.25  
12/19 Decrease slightly Symmetrical 11 to 0 12/19 5.50 -0.25 5.25  

1996
FOMC Meeting Directive Bias Vote Policy Change Fed Funds Target Change Discount Rate Change
1/30 & 1/31 Decrease slightly Symmetical 10 to 0 1/31 5.25 -0.25 5.00 -0.25
3/26 Maintain Symmetical 10 to 0   5.25   5.00  
5/21 Maintain Symmetrical 10 to 0   5.25   5.00  
7/2 & 7/3 Maintain Tighter 11 to 1   5.25   5.00  
8/20 Maintain Tighter 11 to 1   5.25   5.00  
9/24 Maintain Tighter 11 to 1   5.25   5.00  
11/13 Maintain Tighter 12 to 0   5.25   5.00  
12/17 Maintain Tighter 12 to 0   5.25   5.00  

1997
FOMC Meeting Directive Bias Vote Policy Change Fed Funds Target Change Discount Rate Change
2/4 & 2/5 Maintain Tighter 10 to 0   5.25   5.00  
3/25 Increase slightly Symmetrical 10 to 0   5.50 +0.25 5.00  
5/20 Maintain Tighter 9 to 1   5.50   5.00  
7/1 & 7/2 Maintain Tighter 10 to 0   5.50   5.00  
8/19 Maintain Tighter 10 to 0   5.50   5.00  
9/30 Maintain Tighter 10 to 0   5.50   5.00  
11/12 Maintain Tighter 11 to 1   5.50   5.00  
12/16 Maintain Symmetrical 11 to 1   5.50   5.00  

1998
FOMC Meeting Directive Bias Vote Policy Change Fed Funds Target Change Discount Rate Change
2/3 & 2/4 Maintain Symmetrical 12 to 0   5.50   5.00  
3/31 Maintain Tighter 11 to 1   5.50   5.00  
5/19 Maintain Tighter 10 to 2   5.50   5.00  
6/30 & 7/1 Maintain Tighter 10 to 1   5.50   5.00  
8/18 Maintain Symmetrical 10 to 1   5.50   5.00  
9/29 Decrease slightly Easier 11 to 0 9/29 5.25 -0.25 5.00  
        10/15 5.00 -0.25 4.75 -0.25
11/17 Decrease slightly Symmetrical 10 to1 11/17 4.75 -0.25 4.50 -0.25
12/22 Maintain Symmetrical 11 to 0   4.75   4.50  

1999
FOMC Meeting Directive Bias Vote Policy Change Fed Funds Target Change Discount Rate Change
2/2 & 2/3 Maintain Symmetrical 11 to 0   4.75   4.50  
3/30 Maintain Symmetrical 11 to 0   4.75   4.50  
5/18 Maintain Tighter 11 to 0   4.75   4.50  
6/29 & 6/30 Increase slightly Symmetrical   6/30 5.00 + 0.25 4.50  
8/24 Increase slightly Symmetrical   8/24 5.25 + 0.25 4.75 +0.25
10/5  
11/16  
12/21  

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