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The Economy in Perspective

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The price of success … The Federal Open Market Committee voted on February 2 to increase the federal funds target ¼ percentage point, to 5 3/4%. The federal funds target (the price of overnight Federal Reserve credit that depository institutions charge one another) now stands a full percentage point above its level last June.

Suggested citation: "The Economy in Perspective," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-02, pp. 01, 02.01.2000.

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