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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Investor2 who wrote (10599)12/21/1999 2:21:00 PM
From: Ian@SI  Read Replies (2) of 15132
 
Release Date: December 21, 1999

For immediate release

The Federal Open Market Committee made no change today in its target for the federal funds
rate.

Based on the available evidence, however, the Committee remains concerned with the possibility
that over time increases in demand will continue to exceed the growth in potential supply, even
after taking account of the remarkable rise in productivity growth. Such trends could foster
inflationary imbalances that would undermine the economy's exemplary performance.

Nonetheless, in light of market uncertainties associated with the century date change, the
Committee decided to adopt a symmetric directive in order to indicate that the focus of policy in
the intermeeting period must be ensuring a smooth transition into the Year 2000. At its next
meeting the Committee will assess available information on the likely balance of supply and
demand, conditions in financial markets, and the possible need for adjustment in the stance of
policy to contain inflationary pressures.
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