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Notice

Federal Open Market Committee; Domestic Policy Directive of November 6, 2002

A Notice by the Federal Reserve System on 01/02/2003

Document Details

Information about this document as published in the Federal Register.

Printed version:
PDF
Publication Date:
01/02/2003
Agency:
Federal Reserve System
Document Type:
Notice
Document Citation:
68 FR 123
Page:
123 (1 page)
Document Number:
02-33141
Document Details
Published Document

This document has been published in the Federal Register. Use the PDF linked in the document sidebar for the official electronic format.

Start Preamble

In accordance with § 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 November 6, 2002.[1]

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 11/4 percent.

By order of the Federal Open Market Committee, December 23, 2002.

Start Signature

Vincent R. Reinhart,

Secretary, Federal Open Market Committee.

End Signature End Preamble

Footnotes

1.  Copies of the Minutes of the Federal Open Market Committee meeting on November 6, 2002, 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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[FR Doc. 02-33141 Field 12-31-02; 8:45 am]

BILLING CODE 6210-01-S

Published Document