Skip to main content

Monetary Policy

(PDF PDF icon)

At its August 13 meeting, the Federal Open Market Committee left the target federal funds rate unchanged, although it altered the balance-of-risk statement “towards conditions that may generate economic weakness.” The federal funds futures market now has built in a strong possibility of lower rates. With implied yields reaching a minimum of 1.59% in February 2003, the market seems quite confident of a 25 basis point cut by early next year.

Suggested citation: "Monetary Policy," Federal Reserve Bank of Cleveland, Economic Trends, no. 02-09, pp. 04, 09.01.2002.

Upcoming EventsSEE ALL