Dates for:	2014  |  2013  |  2012  |  2011  |  2010  |  2009  |  2008  |  2007  |  2006  |  2005  |  2004  |  2003
	2002  |  2001  |  2000  |  1999  |  1998  |  1997  |  1996  |  1995  |  1994  |  1993  |  1992  |  1991

2014
FOMC Meeting	Directive	Vote	Fed Funds Target	Discount Rate*	Guidance#	Quantitative Easing
1/28 & 1/29	No change	10 to 1	0.00 to 0.25	0.75	well past the time that the unemployment rate declines below 6-1/2 percent, especially if projected inflation continues to run below the Committee's 2 percent longer-run goal	Starting Feb. 2014, Treasury bond purchases at $35 billion per month; MBSs at $30 billion per month.
3/18 & 3/19	No change	8 to 1	0.00 to 0.25	0.75	assessment of progress toward its objectives of maximum employment and 2 percent inflation, taking into account a wide range of information	Starting Apr. 2014, Treasury bond purchases at $30 billion per month; MBSs at $25 billion per month.
4/29 & 4/30	No change	9 to 1	0.00 to 0.25	0.75	maintain the current target range for the federal funds rate for a considerable time after the asset purchase program ends, especially if projected inflation continues to run below the Committee's 2 percent longer-run goal, and provided that longer-term inflation expectations remain well anchored	Starting May 2014, Treasury bond purchases at $25 billion per month; MBSs at $20 billion per month.
6/17 & 6/18	No change	9 to 1	0.00 to 0.25	0.75	assessment of progress toward its objectives of maximum employment and 2 percent inflation, taking into account a wide range of information	Starting July 2014, Treasury bond purchases at $20 billion per month; MBSs at $15 billion per month.
7/29 & 7/30	No change	9 to 1	0.00 to 0.25	0.75	assessment of progress toward its objectives of maximum employment and 2 percent inflation, taking into account a wide range of information; expect to maintain fed funds target for "considerable time" after end of QE	Starting August 2014, Treasury bond purchases at $15 billion per month; MBSs at $10 billion per month.
9/16 & 9/17	No change	8 to 2	0.00 to 0.25	0.75	assessment of progress toward its objectives of maximum employment and 2 percent inflation, taking into account a wide range of information; expect to maintain fed funds target for "considerable time" after end of QE	Starting October 2014, Treasury bond purchases at $10 billion per month; MBSs at $5 billion per month.
10/28 & 10/29	No change	9 to 1	0.00 to 0.25	0.75	balanced approach consistent with Fed's longer-run goals of maximum employment and inflation of 2 percent; economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run	Additional bond purchases end October 2014
12/16 & 12/17
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC # Guidance in statement for expected duration of an exceptionally low fed funds rate.

2013
FOMC Meeting	Directive	Vote	Fed Funds Target	Discount Rate*	Guidance#	Quantitative Easing
1/29 & 1/30	No Change	11 to 1	0 to 0.25	0.75	while unemployment is above 6.5%, inflation no more than 2.5%, and inflation expectations well anchored, plus "other information"	Treasury bond purchases at $45 billion per month; MBSs at $40 billion per month.
3/19 & 3/20	No Change	11 to 1	0 to 0.25	0.75	while unemployment is above 6.5%, inflation no more than 2.5%, and inflation expectations well anchored, plus "other information"	Treasury bond purchases at $45 billion per month; MBSs at $40 billion per month.
4/30 & 5/1	No Change	11 to 1	0 to 0.25	0.75	while unemployment is above 6.5%, inflation no more than 2.5%, and inflation expectations well anchored, plus "other information"	Treasury bond purchases at $45 billion per month; MBSs at $40 billion per month.
6/18 & 6/19	No Change	10 to 2	0 to 0.25	0.75	while unemployment is above 6.5%, inflation no more than 2.5%, and inflation expectations well anchored, plus "other information"	Treasury bond purchases at $45 billion per month; MBSs at $40 billion per month.
7/30 & 7/31	No Change	11 to 1	0 to 0.25	0.75	while unemployment is above 6.5%, inflation no more than 2.5%, and inflation expectations well anchored, plus "other information"	Treasury bond purchases at $45 billion per month; MBSs at $40 billion per month.
9/17 & 9/18	No Change	9 to 1	0 to 0.25	0.75	while unemployment is above 6.5%, inflation no more than 2.5%, and inflation expectations well anchored, plus "other information"	Treasury bond purchases at $45 billion per month; MBSs at $40 billion per month.
10/29 & 10/30	No Change	9 to 1	0 to 0.25	0.75	while unemployment is above 6.5%, inflation no more than 2.5%, and inflation expectations well anchored, plus "other information"	Treasury bond purchases at $45 billion per month; MBSs at $40 billion per month.
12/17 & 12/18	No Change	9 to 1	0 to 0.25	0.75	while unemployment is above 6.5%, inflation no more than 2.5%, and inflation expectations well anchored, plus "other information"	Treasury bond purchases at $40 billion per month; MBSs at $35 billion per month. Starting Jan. 2014.
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC # Guidance in statement for expected duration of an exceptionally low fed funds rate.

2012
FOMC Meeting	Directive	Vote	Fed Funds Target	Discount Rate*	Guidance#	Quantitative Easing
1/24 & 1/25	No Change	9 to 1	0 to 0.25	0.75	at least through late 2014
3/13	No Change	9 to 1	0 to 0.25	0.75	at least through late 2014
4/24 & 4/25	No Change	9 to 1	0 to 0.25	0.75	at least through late 2014
6/19 & 6/20	No Change	11 to 1	0 to 0.25	0.75	at least through late 2014
7/31 & 8/1	No Change	11 to 1	0 to 0.25	0.75	at least through late 2014
9/12 & 9/13	No Change	11 to 1	0 to 0.25	0.75	at least through mid 2015
10/23 & 10/24	No Change	11 to 1	0 to 0.25	0.75	at least through mid 2015	MBSs at $40 billion per month.
12/11 & 12/12	No Change	11 to 1	0 to 0.25	0.75	while unemployment is above 6.5%, inflation no more than 2.5%, and inflation expectations well anchored, plus "other information"	Treasury bond purchases at $45 billion per month; MBSs at $40 billion per month.
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC # Guidance in statement for expected duration of an exceptionally low fed funds rate.

2011
FOMC Meeting	Directive	Vote	Fed Funds Target	Discount Rate*	Guidance#
1/25 & 1/26	No Change	11 to 0	0 to 0.25	0.75	for an extended period
3/15	No Change	10 to 0	0 to 0.25	0.75	for an extended period
4/26 & 4/27	No Change	10 to 0	0 to 0.25	0.75	for an extended period
6/21 & 6/22	No Change	10 to 0	0 to 0.25	0.75	for an extended period
8/9	No Change	7 to 3	0 to 0.25	0.75	at least through mid-2013
9/20 & 9/21	No Change	7 to 3	0 to 0.25	0.75	at least through mid-2013
11/1 & 11/2	No Change	9 to 1	0 to 0.25	0.75	at least through mid-2013
12/13	No Change	9 to 1	0 to 0.25	0.75	at least through mid-2013
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC # Guidance in statement for expected duration of an exceptionally low fed funds rate.

2010
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Primary Credit Discount Rate*	Change
1/26 & 1/27	No change		9 to 1		0.00 to 0.25		0.50
2/18*							0.75	+0.25
3/16	No change		9 to 1		0.00 to 0.25		0.75
4/27 & 4/28	No change		9 to 1		0.00 to 0.25		0.75
6/22 & 6/23	No change		9 to 1		0.00 to 0.25		0.75
8/10	No change		9 to 1		0.00 to 0.25		0.75
9/21	No change		8 to 1		0.00 to 0.25		0.75
11/2 & 11/3	Expand balance sheet		10 to 1		0.00 to 0.25		0.75
12/14	No change		10 to 1		0.00 to 0.25		0.75
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

2009
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Primary Credit Discount Rate*	Change
1/27 & 1/28	No change	Economic weakness risk	8 to 1		0.00 to 0.25		0.50
3/17 & 3/18	No change	Economic weakness risk	10 to 0		0.00 to 0.25		0.50
4/28 & 4/29	No change	Economic weakness risk	10 to 0		0.00 to 0.25		0.50
6/23 & 6/24	No change	Economic weakness risk	10 to 0		0.00 to 0.25		0.50
8/11 & 8/12	No change	Economic weakness risk	10 to 0		0.00 to 0.25		0.50
9/22 & 9/23	No change	Economic weakness risk	10 to 0		0.00 to 0.25		0.50
11/3 & 11/4	No change	Economic weakness risk	10 to 0		0.00 to 0.25		0.50
12/15 & 12/16	No change	Economic weakness risk	10 to 0		0.00 to 0.25		0.50
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

2008
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Primary Credit Discount Rate*	Change
1/22 Emergency Meeting	Decrease	Economic weakness risk	8 to 1	1/22	3.50	-0.75	4.00	-0.75
1/29 & 1/30	Decrease	Economic weakness risk	9 to 1	1/31	3.00	-0.50	3.50	-0.50
3/16 discount rate meeting							3.25	-0.25
3/18	Decrease	Economic weakness risk	8 to 2	3/18	2.25	-0.75	2.50	-0.75
4/29 & 4/30	Decrease	Symmetrical	8 to 2	4/30	2.00	-0.25	2.25	-0.25
6/24 & 6/25	No change	Inflation risk	9 to 1		2.00		2.25
8/5	No change	Symmetrical	10 to 1		2.00		2.25
9/16	No change	Symmetrical	10 to 0		2.00		2.25
10/8 Emergency Meeting	Decrease	Economic weakness risk	10 to 0	10/8	1.50	-0.50	1.75	-0.50
10/28 & 10/29	Decrease	Economic weakness risk	10 to 0	10/29	1.00	-0.50	1.25	-0.50
12/15-16**	Decrease	Economic weakness risk	10 to 0	12/16	0.00 to 0.25	-0.75 to -1.00	0.50	-0.75
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

2007
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Primary Credit Discount Rate*	Change
1/30 & 1/31	No change	Inflation risk	11-0		5.25		6.25
3/20 & 3/21	No change	Inflation risk	10-0		5.25		6.25
5/9	No change	Inflation risk	10-0		5.25		6.25
6/27 & 6/28	No change	Inflation risk	10-0		5.25		6.25
8/7	No change	Inflation risk	10-0		5.25		6.25
8/17 discount rate meeting							5.75	-0.50
9/18	Decrease	Symmetrical	10-0	9/18	4.75	-0.50	5.25	-0.50
10/30 & 10/31	Decrease	Symmetrical	9-1	10/31	4.50	-0.25	5.00	-0.25
12/11	Decrease	Symmetrical	9-1	12/11	4.25	-0.25	4.75	-0.25
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

2006
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Primary Credit Discount Rate**	Change
1/31	Increase slightly	Symmetrical	10 to 0	1/31	4.50	+0.25	5.50	+0.25
3/27 & 3/28	Increase slightly	Symmetrical	11 to 0	3/28	4.75	+0.25	5.75	+0.25
5/10	Increase slightly	Inflation risk	11 to 0	5/10	5.00	+0.25	6.00	+0.25
6/28 & 6/29	Increase slightly	Inflation risk	10 to 0	6/29	5.25	+0.25	6.25	+0.25
8/8	No change	Inflation risk	9 to 1		5.25		6.25
9/20	No change	Inflation risk	10 to 1		5.25		6.25
10/24	No change	Inflation risk	10 to 1		5.25		6.25
12/12	No change	Inflation risk	10 to 1		5.25		6.25
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

2005
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Primary Credit Discount Rate**	Change
2/1 & 2/2	Increase slightly	Symmetrical	12 to 0	2/2	2.50	+0.25	3.50	+0.25
3/22	Increase slightly	Symmetrical	12 to 0	3/22	2.75	+0.25	3.75	+0.25
5/3	Increase slightly	Symmetrical	11 to 0	5/3	3.00	+0.25	4.00	+0.25
6/29 & 6/30	Increase slightly	Symmetrical	11 to 0	6/30	3.25	+0.25	4.25	+0.25
8/9	Increase slightly	Symmetrical	10 to 0	8/9	3.50	+0.25	4.50	+0.25
9/20	Increase slightly	Symmetrical	9 to 1	9/20	3.75	+0.25	4.75	+0.25
11/1	Increase slightly	Symmetrical	10 to 0	11/1	4.00	+0.25	5.00	+0.25
12/13	Increase slightly	Symmetrical	10 to 0	12/13	4.25	+0.25	5.25	+0.25
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

2004
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Primary Credit Discount Rate**	Change
1/27 & 1/28	Maintain	Symmetrical	12 to 0		1.00		2.00
3/16	Maintain	Symmetrical	12 to 0		1.00		2.00
5/4	Maintain	Symmetrical	12 to 0		1.00		2.00
6/29 & 6/30	Increase slightly	Symmetrical	12 to 0	6/30	1.25	+0.25	2.25	+0.25
8/10	Increase slightly	Symmetrical	12 to 0	8/10	1.50	+0.25	2.50	+0.25
9/21	Increase slightly	Symmetrical	12 to 0	9/21	1.75	+0.25	2.75	+0.25
11/10	Increase slightly	Symmetrical	12 to 0	11/10	2.00	+0.25	3.00	+0.25
12/14	Increase slightly	Symmetrical	12 to 0	12/14	2.25	+0.25	3.25	+0.25
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

2003
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Primary Credit Discount Rate**	Change
1/28 & 1/29	Maintain	Symmetrical	12 to 0		1.25		2.25
3/18	Maintain	Symmetrical	12 to 0		1.25		2.25
5/6	Maintain	Economic weakness risk	12 to 0		1.25		2.25
6/24 & 6/25	Decrease slightly	Deflation risk & economic weakness risk	11 to 1		1.00	-0.25	2.00	-0.25
8/12	Maintain	Deflation risk	12 to 0		1.00		2.00
9/16	Maintain	Deflation risk	12 to 0		1.00		2.00
10/28	Maintain	Deflation risk	12 to 0		1.00		2.00
12/9	Maintain	Symmetrical	12 to 0		1.00		2.00
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

2002
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Discount Rate	Change
1/29 & 1/30	Maintain	Economic weakness risk	10 to 0		1.75		1.25
3/19	Maintain	Symmetrical	10 to 0		1.75		1.25
5/7	Maintain	Symmetrical	10 to 0		1.75		1.25
6/25 & 6/26	Maintain	Symmetrical	10 to 0		1.75		1.25
8/13	Maintain	Economic weakness risk	12 to 0		1.75		1.25
9/24	Maintain	Economic weakness risk	10 to 2		1.75		1.25
11/6	Decrease slightly	Symmetrical	12 to 0	11/6	1.25	-0.50	0.75	-0.50
12/10	Maintain	Symmetrical	12 to 0		1.25		0.75
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

2001
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Discount Rate	Change
1/3/01 Inter-Meeting	Decrease slightly	Economic weakness risk	10 to 0	1/3 1/4	6.00	-0.50	5.75 5.50	-0.25 -0.25
1/30 & 1/31	Decrease slightly	Economic weakness risk	10 to 0	1/31	5.50	-0.50	5.00	-0.50
3/20	Decrease slightly	Economic weakness risk	10 to 0	3/20	5.00	-0.50	4.50	-0.50
4/18 intermeeting	Decrease slightly	Economic weakness risk	10 to 0	4/18	4.50	-0.50	4.00	-0.50
5/15	Decrease slightly	Economic weakness risk	9 to 1	5/15	4.00	-0.50	3.50	-0.50
6/26 & 6/27	Decrease slightly	Economic weakness risk	9 to 1	6/27	3.75	-0.25	3.25	-0.25
8/21	Decrease slightly	Economic weakness risk	10 to 0	8/21	3.50	-0.25	3.00	-0.25
9/17 intermeeting	Decrease slightly	Economic weakness risk & terrorist attack	10 to 0	9/17	3.00	-0.50	2.50	-0.50
10/2	Decrease slightly	Economic weakness risk	10 to 0	10/2	2.50	-0.50	2.00	-0.50
11/6	Decrease slightly	Economic weakness risk	10 to 0	11/6	2.00	-0.50	1.50	-0.50
12/11	Decrease slightly	Economic weakness risk	10 to 1	12/11	1.75	-0.25	1.25	-0.25
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

2000
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Discount Rate	Change
2/1 & 2/2	Increase Slightly	Inflation Risk	10 to 0	2/2	5.75	+0.25	5.25	+0.25
3/21	Increase slightly	Inflation risk	10 to 0	3/21	6.0	+0.25	5.50	+0.25
5/16	Increase slightly	inflation risk	10 to 0	5/16	6.50	+0.50	6.00	+0.50
6/27 & 6/28	Maintain	Inflation risk	10 to 0		6.50		6.00
8/22	Maintain	Inflation risk	10 to 0		6.50		6.00
10/3	Maintain	Inflation Risk	10 to 0		6.50		6.00
11/15	Maintain	Inflation Risk	10 to 0		6.50		6.00
12/19	Decrease slightly	Economic weakness risk	10 to 0		6.50		6.00
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

1999
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Discount Rate	Change
2/2 & 2/3	Maintain	Symmetrical	11 to 0		4.75		4.50
3/30	Maintain	Symmetrical	11 to 0		4.75		4.50
5/18	Maintain	Tighter	11 to 0		4.75		4.50
6/29 & 6/30	Increase slightly	Symmetrical	9 to 1	6/30	5.00	+ 0.25	4.50
8/24	Increase slightly	Symmetrical	9 to 1	8/24	5.25	+ 0.25	4.75	+0.25
10/5	Maintain	Tighter	10 to 0		5.25		4.75
11/16	Increase Slightly	Symmetrical	10 to 0	11/16	5.50	+ 0.25	5.00	+ 0.25
12/21	Maintain	Symmetrical	10 to 0		5.50		5.00
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

1998
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Discount Rate	Change
2/3 & 2/4	Maintain	Symmetrical	12 to 0		5.50		5.00
3/31	Maintain	Tighter	11 to 1		5.50		5.00
5/19	Maintain	Tighter	10 to 2		5.50		5.00
6/30 & 7/1	Maintain	Tighter	10 to 1		5.50		5.00
8/18	Maintain	Symmetrical	10 to 1		5.50		5.00
9.29	Decrease Slightly	Easier	11 to 0	9/29 10/15	5.25 5.00	-0.25 - 0.25	5.00 4.50	- 0.25
11/17	Decrease Slightly	Symmetrical	10 to 1	11/17	4.75	- 0.25	4.50	- 0.25
12/22	Maintain	Symmetrical	11 to 0		4.75		4.50
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

1997
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Discount Rate	Change
2/4 & 2/5	Maintain	Tighter	10 to 0		5.25		5.00
3/25	Increase Slightly	Symmetrical	10 to 0	3/25	5.50	+ 0.25	5.00
5/20	Maintain	Tighter	9 to 1		5.50		5.00
7/1 & 7/2	Maintain	Tighter	10 to 0		5.50		5.00
8/19	Maintain	Tighter	10 to 0		5.50		5.00
9/30	Maintain	Tighter	10 to 0		5.50		5.00
11/12	Maintain	Tighter	11 to 0		5.50		5.00
12/16	Maintain	Symmetrical	11 to 0		5.50		5.00
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

1996
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Discount Rate	Change
1/30 & 1/31	Decrease Slightly	Symmetrical	10 to 0	1/31	5.25	- 0.25	5.00	- 0.25
3/26	Maintain	Symmetrical	10 to 0		5.25		5.00
5/21	Maintain	Symmetrical	10 to 0		5.25		5.00
7/2 & 7/3	Maintain	Tighter	11 to 1		5.25		5.00
8/20	Maintain	Tighter	11 to 1		5.25		5.00
9/24	Maintain	Tighter	11 to 1		5.25		5.00
11/13	Maintain	Tighter	12 to 0		5.25		5.00
12/17	Maintain	Tighter	12 to 0		5.25		5.00
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

1995
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Discount Rate	Change
1/31 & 2/1	Increase Somewhat	Symmetrical	12 to 0	2/1	6.00	+ 0.50	5.25	+ 0.50
3/28	Maintain	Tighter	11 to 0		6.00		5.25
5/23	Maintain	Symmetrical	11 to 0		6.00		5.25
7/5 & 7/6	Decrease Slightly	Easier	10 to 1	7/6	5/75	- 0.25	5.25
8/22	Maintain	Symmetrical	11 to 0		5.75		5.25
9/26	Maintain	Symmetrical	11 to 0		5.75		5.25
11/15	Maintain	Symmetrical	10 to 10		5.75		5.25
12/19	Decrease Slightly	Symmetrical	11 to 0	12/19	5.50	- 0.25	5.25
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

1994
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Discount Rate	Change
2/3 & 2/4	Increase Slightly	Symmetrical	10 to 0	2/4	3.25	+ 0.25	3.00
3/22	Increase Slightly	Symmetrical	8 to 2	3/22 4/18	3.50 3.75	+ 0.25 + 0.25	3.00 3.00
5/17	Increase Somewhat	Symmetrical	10 to 0	5/17	4.25	+ 0.50	3.50	+ 0.50
7/5 & 7/6	Maintain	Tighter	10 to 1		4.25		3.50
8/16	Increase Somewhat	Symmetrical	12 to 0	8/16	4.75	+ 0.50	4.00	+ 0.50
9/27	Maintain	Tighter	11 to 1		4.75		4.00
11/15	Increase Significantly	Symmetrical	12 to 0	11/15	5.50	+ 0.75	4.75	+ 0.75
12/20	Maintain	Tighter	11 to 1		5.50		4.75
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

1993
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Discount Rate	Change
2/2 & 2/3	Maintain	Symmetrical	12 to 0		3.00		3.00
3/23	Maintain	Symmetrical	10 to 2		3.00		3.00
5/18	Maintain	Tighter	10 to 2		3.00		3.00
7/6 & 7/7	Maintain	Tighter	11 to 1		3.00		3.00
8/17	Maintain	Symmetrical	12 to 0		3.00		3.00
9/21	Maintain	Symmetrical	12 to 0		3.00		3.00
11/16	Maintain	Symmetrical	12 to 0		3.00		3.00
12/21	Maintain	Symmetrical	10 to 2		3.00		3.00
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

1992
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Discount Rate	Change
2/4 & 2/5	Maintain	Easier	12 to 0		4.00		3.50
3/31	Maintain	Easier	12 to 0	4/9	4.00 3.75	- 0.25	3.50
5/19	Maintain	Symmetrical	12 to 0		3.75		3.50
6/30 & 7/1	Maintain	Easier	10 to 2	7/2	3.75 3.25	- 0.50	3.50 3.00	- 0.50
8/18	Maintain	Easier	10 to 2	9/4	3.25 3.00	- 0.25	3.50
10/6	Maintain	Easier	8 to 4		3.00		3.00
11/17	Maintain	Easier	9 to 3		3.00		3.00
12/22	Maintain	Symmetrical	12 to 0		3.00		3.00
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC

1991
FOMC Meeting	Directive	Bias	Vote	Policy Change	Fed Funds Target	Change	Discount Rate	Change
2/5 & 2/6	Maintain	Easier	11 to 0	3/8	6.25 6.00	- 0.25	6.00
3/26	Maintain	Symmetrical	10 to 0	4/30	6.00 5.75	- 0.25	6.00 5.50	- 0.50
5/14	Maintain	Symmetrical	10 to 0		5.75		5.50
7/2 & 7/3	Maintain	Symmetrical	10 to 0	8/6	5.75 5.50	- 0.25	5.50
8/20	Maintain	Easier	10 to 0	9/13	5.50 5.25	-0.25	5.50 5.00	-0.50
10/1	Maintain	Easier	10 to 0	10/31	5.25 5.00	- 0.25	5.50
11/5	Decrease Somewhat	Easier	8 to 2	11/6 12/6	5.00 4.75 4.50	- 0.25 - 0.25	5.00 4.50	- 0.50
12/17	Maintain	Easier	11 to 1	12/20	4.50 4.00	- 0.50	4.50 3.50	- 1.00
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* Discount rate vote is by the Federal Reserve Board alone and not the full FOMC