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|  |  Dates for:   1999    |  1998    |  1997    |  1996    |  1995    |  1994    |  1993    |  1992    |  1991    |  1990
 
 
| 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 | 9 to 1 | 6/30 | 5.00 | + 0.25 | 4.50 |  |                                                       
| 8/24 | Increase slightly | Symmetrical | 9 to 1 |  | 5.25 | + 0.25 | 4.75 | +0.25 |                                                    
| 10/5 | Maintain | Tighter | 10 to 0 |  | 5.25 |  | 4.75 |  |                                                       
| 11/16 | Increase Slightly | Symmetrical | 10 to 0 |  | 5.50 | + 0.25 | 5.00 | + 0.25 |                                                     
| 12/21 | Maintain | Symmetrical | 10 to 0 |  | 5.50 |  | 5.00 |  |  
 
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