Skip to main content

September/October 1996, 
Vol. 78, No. 5
Posted 1996-09-01

The FOMC in 1995: A Step Closer to Inflation Targeting?


For several years, Federal Reserve monetary policy actions have appeared to reflect an objective of stabilizing the inflation rate around a 3 percent trend. The author reviews the 1995 actions of the Federal Open Market Committee (FOMC), examining them in the context of a declining role for monetary targets and an increasing emphasis on the Federal Reserve’s inflation objective.