[Federal Register Volume 65, Number 134 (Wednesday, July 12, 2000)]
[Notices]
[Page 43012]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-17582]


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FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of May 
16, 2000

    In accordance with Sec. 71.5 of its rules regarding availability of 
information (12 CFR part 271), there is set forth below the domestic 
policy directive issued by the Federal Open Market Committee at its 
meeting held on May 16, 2000.\1\
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    \1\ Copies of the Minutes of the Federal Open Market Committee 
meeting of May 16, 2000, which include the domestic policy directive 
issued at that meeting, are available upon request to the Board of 
Governors of the Federal Reserve System, Washington, D.C. 20551. The 
minutes are published in the Federal Reserve Bulletin and in the 
Board's annual report.
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    The Federal Open Market Committee seeks monetary and financial 
conditions that will foster price stability and promote sustainable 
growth in output. To further its long-run objectives, the Committee in 
the immediate future seeks conditions in reserve markets consistent 
with increasing the federal funds rate to an average of around 6\1/2\ 
percent.

    By order of the Federal Open Market Committee, June 30, 2000.
Donald L. Kohn,
Secretary, Federal Open Market Committee.
[FR Doc. 00-17582 Filed 7-11-00; 8:45 am]
BILLING CODE 6210-01-M