November 13 · Published December 20, 1996
Statement·Presser·Minutes
AGAlan GreenspanNovember 13, 1996 FOMC Minutes
Vote
- Boehne
- Alan Greenspan
- Jerry L. Jordan
- Edward W. Kelley, Jr.
- Lawrence B. Lindsey
- William J. McDonough
- Robert D. McTeer, Jr.
- Laurence H. Meyer
- Susan M. Phillips
- Alice M. Rivlin
- Stern
- Janet L. Yellen
From the minutes
FOMC minutes
It was agreed that the next meeting of the Committee would be held on Tuesday, December 17, 1996.
The meeting adjourned at 12:25 p.m.
Donald L. Kohn
Secretary
What changed from the previous meeting’s minutes
- Mr. Stern voted with the majority in November, reversing his September dissent for tightening.
- The November directive expected relatively strong M3 expansion, replacing September's moderate M3 growth expectation.
- The dollar depreciated slightly over the intermeeting period in November, versus slight appreciation in September.
- Market interest rates moved lower in November, after rising somewhat in September.
- The November meeting reported a unanimous vote, with no dissents recorded.
- The unemployment rate was 5.2 percent in October, up from 5.1 percent in August.
Summary generated automatically from the two documents.