December 17 · Published February 6, 1997
Statement·Presser·Minutes
AGAlan GreenspanDecember 17, 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-Wednesday, February 4-5, 1997.
The meeting adjourned at 12:40 p.m.
Donald L. Kohn
Secretary
What changed from the previous meeting’s minutes
- Dollar trade-weighted value rose slightly instead of depreciating slightly.
- M3 growth for year through November estimated a little above top of range, not around top.
- Staff forecast added projected rise in core inflation over 1997 and 1998.
- Unemployment rate edged up to 5.4 percent in November from 5.2 percent in October.
- Long-term yields rose slightly; short-term rates had mixed changes instead of declines.
- Consumer spending described as posting appreciable gains after summer lull, not just turning up.
Summary generated automatically from the two documents.