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Dates for:  1999   |  1998   |  1997   |  1996   |  1995   |  1994   |  1993   |  1992   |  1991   |  1990 1996 FOMC Meeting Directive Bias Vote Policy Change Fed Funds Target Change Discount Rate Change 1/30 & 1/31 Decrease Slightly Symmetrical 10 to 0 1/31 5.25 - 0.25 5.00 - 0.25 3/26 Maintain Symmetrical 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

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