Outcome of Today's FOMC Meeting

By: Douglas R. Gillespie | Tue, Mar 22, 2005
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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.

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Douglas R. Gillespie

Author: Douglas R. Gillespie

Douglas R. Gillespie, Sr.
Gillespie Research Associates
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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.

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