FEDERAL RESERVE POLICY ACTIONS Dates for:  2005   |   2004   |   2003   |  2002   |  2001   |  2000   |  1999   |  1998   |  1997   |  1996   |  1995   |  1994   |  1993   |  1992   |  1991 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   ** On January 9, 2003, the Fed changed its operating procedures regarding discount window borrowing. Going forward, the primary credit discount rate will be 100 basis points higher than the federal funds rate target. About the Fed   •   Fed Watching Indicators   •   Key Fed Facts Legal Notices | © 1998-2006 Econoday, Inc. All Rights Reserved.