The Economy in Perspective
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.