March 28 · Published May 26, 1995
Statement·Presser·Minutes
AGAlan GreenspanMarch 28, 1995 FOMC Minutes
Vote
- Alan S. Blinder
- Alan Greenspan
- Thomas M. Hoenig
- Edward W. Kelley, Jr.
- Lawrence B. Lindsey
- William J. McDonough
- Thomas C. Melzer
- Cathy E. Minehan
- Michael H. Moskow
- Susan M. Phillips
- Janet L. Yellen
From the minutes
FOMC minutes
It was agreed that the next meeting of the Committee would be held on Tuesday, May 23, 1995.
The meeting adjourned at 1:15 p.m.
Donald L. Kohn
Secretary
What changed from the previous meeting’s minutes
- The FOMC voted to increase reserve pressure in February, then voted to maintain it in March.
- The February directive was symmetric; the March directive was asymmetric, tilted toward restraint.
- The discount rate was raised from 4-3/4 to 5-1/4 percent on February 1, 1995.
- The February minutes noted a strong expansion; the March minutes reported a considerable moderation in growth.
- The March minutes cited a substantial further decline in the dollar's trade-weighted value over the intermeeting period.
- The March minutes reported faster increases in consumer and producer price indexes in January and February.
Summary generated automatically from the two documents.