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March 22, 2005

Outcome of Today's FOMC Meeting
by Douglas R. Gillespie

Summary

Per the expectation of virtually everyone, the Federal Open Market Committee today announced its decision to increase the target rate on federal funds by 25 basis points, from 2.50% to 2.75%.  Concurrently, the Federal Reserve Board of Governors announced a quarter-point increase in the Discount Rate, from 3.50% to 3.75%.  As I expected, the post-meeting statement did contain some critical shifts, although they were subtle ones.

http://www.gillespieresearch.com/cgi-bin/s/article/id=502

Douglas R. Gillespie, Sr.
Gillespie Research Associates
165 Sheridan Avenue
HO-HO-KUS, NJ 07423
201-447-5743

Doug Gillespie oversees his own financial-market and economic consulting firm, Gillespie Research Associates. For a complimentary sample of Dougs material, e-mail him at drgillespiesr@aol.com.

Copyright © 2004-2005 Gillespie Research Associates. All rights reserved.

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