[Federal Register Volume 69, Number 97 (Wednesday, May 19, 2004)]
[Notices]
[Page 28892]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-11315]


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FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of March 
16, 2004

    In accordance with Sec. [thinsp]271.25 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 16, 2004.\1\
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    \1\[thinsp]Copies of the Minutes of the Federal Open Market 
Committee meeting on March 16, 2004, which includes the domestic 
policy directive issued at the 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 maintaining the federal funds rate at an average of around 1 
percent.
    By order of the Federal Open Market Committee, May 11, 2004.

Vincent R. Reinhart,
Secretary, Federal Open Market Committee.
[FR Doc. 04-11315 Field 5-18-04; 8:45 am]
BILLING CODE 6210-01-Sy