[Federal Register Volume 71, Number 175 (Monday, September 11, 2006)]
[Notices]
[Page 53453]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-15015]


-----------------------------------------------------------------------

FEDERAL RESERVE SYSTEM


Federal Open Market Committee; Domestic Policy Directive of 
August 8, 2006

    In accordance with Sec.  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 August 8, 2006.\1\
---------------------------------------------------------------------------

    \1\ Copies of the Minutes of the Federal Open Market Committee 
Meeting on August 8, 2006, 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, DC 
20551. The minutes are published in the Federal Reserve Bulletin and 
in the Board's annual report.
---------------------------------------------------------------------------

    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 to an average of around 5\1/4\ 
percent.
    The vote encompassed approval of the paragraph below for inclusion 
in the statement to be released shortly after the meeting:

    The Committee judges that some inflation risks remain. The 
extent and timing of any additional firming that may be needed to 
address these risks will depend on the evolution of the outlook for 
both inflation and economic growth, as implied by incoming 
information.

    By order of the Federal Open Market Committee, August 31, 2006.
Vincent R. Reinhart,
Secretary, Federal Open Market Committee.
[FR Doc. E6-15015 Filed 9-8-06; 8:45 am]
BILLING CODE 6210-01-P