December 22 · Published February 4, 1999
Statement·Presser·Minutes
AGAlan GreenspanDecember 22, 1998 FOMC Minutes
Vote
- Roger W. Ferguson, Jr.
- Edward M. Gramlich
- Alan Greenspan
- Thomas M. Hoenig
- Jerry L. Jordan
- Edward W. Kelley, Jr.
- William J. McDonough
- Laurence H. Meyer
- Cathy E. Minehan
- William Poole
- Alice M. Rivlin
From the minutes
FOMC minutes
It was agreed that the next meeting of the Committee would be held on Tuesday-Wednesday, February 2-3, 1999.
The meeting adjourned at 12:55 p.m.
Donald L. Kohn
Secretary
What changed from the previous meeting’s minutes
- The FOMC voted unanimously to hold the federal funds rate at 4-3/4 percent, with no dissents.
- The directive was reworded to state prospective developments were equally likely to warrant an increase or decrease.
- The FOMC removed the sentence on money growth outlook from the operating paragraph.
- The FOMC decided to release infrequent post-meeting announcements on major shifts in risk views.
- Mr. Jordan voted with the majority, reversing his previous dissent against easing.
- The next meeting was scheduled for February 2-3, 1999, instead of December 22, 1998.
Summary generated automatically from the two documents.