[Federal Register Volume 66, Number 108 (Tuesday, June 5, 2001)]
[Notices]
[Page 30193]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-14054]



[[Page 30193]]

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FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of March 
20, 2001.

    In accordance with Sec. 271.5 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 March 20, 2001.\1\
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    \1\ Copies of the Minutes of the Federal Open Market Committee 
meeting of March 20, 2001, 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 reducing the federal funds rate to an average of around 5 percent.
    By order of the Federal Open Market Committee, May 23, 2001.

Donald L. Kohn,
Secretary, Federal Open Market Committee.
[FR Doc. 01-14054 Filed 6-4-01; 8:45 am]
BILLING CODE 6210-01-S