May 23 · Published July 7, 1995
Statement·Presser·Minutes
AGAlan GreenspanMay 23, 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 Wednesday-Thursday, July 5-6, 1995.
The meeting adjourned at 12:15 p.m.
Donald L. Kohn
Secretary
What changed from the previous meeting’s minutes
- The directive shifted from an asymmetric bias toward restraint to a symmetric, unbiased instruction.
- The staff forecast changed to expect inflation to moderate, rather than increase, over coming months.
- Housing outlook changed from projected further decline to a pickup in response to lower mortgage rates.
- The dollar's trade-weighted value rose on balance over the intermeeting period, after falling substantially earlier.
- The unemployment rate rose to 5.8 percent in April from 5.4 percent in February.
- The FOMC noted the inventory correction as the dominant near-term influence, replacing earlier concerns about resource pressures.
Summary generated automatically from the two documents.