At its December 17 meeting the Federal Open Market Committee again left the intended federal funds rate unchanged at 5.25%. It is now approaching one year since the Committee last altered it's federal funds rate objective, a 25-basis point reduction that occurred following its January 31, 1996 meeting.
Suggested citation: “Monetary Policy,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-01, pp. 02-04, 01.01.1997.