The Federal Open Market Committee (FOMC) left the intended federal funds rate at 6.5% on November 15, the fourth consecutive meeting that has resulted in no change. Most market participants had expected this decision; they focused instead on the portion of the press release in which the FOMC noted that despite a recent slowdown in some economic indicators, the balance of risks had not changed, that is, they were weighted toward “conditions that may generate heightened inflation pressure for the foreseeable future.”
Suggested citation: "Monetary Policy," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-12, pp. 02-03, 12.01.2000.