March 30 · Published May 20, 1999
Statement·Presser·Minutes
AGAlan GreenspanMarch 30, 1999 FOMC Minutes
Vote
- Boehne
- Roger W. Ferguson, Jr.
- Edward M. Gramlich
- Alan Greenspan
- Edward W. Kelley, Jr.
- William J. McDonough
- Robert D. McTeer, Jr.
- Laurence H. Meyer
- Michael H. Moskow
- Alice M. Rivlin
- Stern
From the minutes
FOMC minutes
It was agreed that the next meeting of the Committee would be held on Tuesday, May 18, 1999.
The meeting adjourned at 12:35 p.m.
Donald L. Kohn
Secretary
What changed from the previous meeting’s minutes
- The dollar appreciated against the yen and euro, whereas it had depreciated slightly against major currencies previously.
- M2 and M3 growth moderated considerably in early 1999, versus very large increases in late 1998.
- The trade deficit widened substantially in January, compared to a slightly smaller combined October-November deficit.
- Housing starts increased appreciably from an elevated level, versus a prior expectation of moderation.
- The FOMC noted no evidence of accelerating inflation, similar to the prior meeting's assessment.
Summary generated automatically from the two documents.