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Politics : Idea Of The Day

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To: Lee who wrote (28296)	8/24/1999 2:29:00 PM
From: Lee	Read Replies (1) of 50167

Fed Action on Tuesday, August 24th, 1999 Fed Funds Rate = +0.25% to 5.25% Discount Rate = +0.25% to 4.75% Bias = Nuetral bog.frb.fed.us The Federal Open Market Committee today voted to raise its target for the federal funds rate by 25 basis points to 5-1/4 percent. In a related action, the Board of Governors approved a 25 basis point increase in the discount rate to 4-3/4 percent. the directive the Federal Open Market Committee adopted is symmetrical with regard to the outlook for policy over the near term.

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