Sumber: The Fed | Editor: Hasbi Maulana
To support the Committee's decision to raise the target range for the federal funds rate, the Board of Governors voted unanimously to raise the interest rates on required and excess reserve balances 1/4 percentage point, to 1-3/4 percent, effective March 22, 2018. The Board of Governors also voted unanimously to approve a 1/4 percentage point increase in the primary credit rate (discount rate) to 2-1/4 percent, effective March 22, 2018.4
It was agreed that the next meeting of the Committee would be held on Tuesday-Wednesday, May 1-2, 2018. The meeting adjourned at 9:55 a.m. on March 21, 2018.
Notation Vote
By notation vote completed on February 20, 2018, the Committee unanimously approved the minutes of the Committee meeting held on January 30-31, 2018.
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James A. Clouse
Secretary
1. The Federal Open Market Committee is referenced as the "FOMC" and the "Committee" in these minutes. Return to text
2. Attended Tuesday session only. Return to text
3. Attended through the discussion of developments in financial markets and open market operations. Return to text
4. In taking this action, the Board approved requests submitted by the boards of directors of the Federal Reserve Banks of Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, St. Louis, Kansas City, Dallas, and San Francisco. This vote also encompassed approval by the Board of Governors of the establishment of a 2-1/4 percent primary credit rate by the remaining Federal Reserve Banks, effective on the later of March 22, 2018, and the date such Reserve Banks informed the Secretary of the Board of such a request. (Secretary's note: Subsequently, the Federal Reserve Banks of Chicago and Minneapolis were informed by the Secretary of the Board of the Board's approval of their establishment of a primary credit rate of 2-1/4 percent, effective March 22, 2018.) The second vote of the Board also encompassed approval of the establishment of the interest rates for secondary and seasonal credit under the existing formulas for computing such rates. Return to text
