FRB: Press Release -- FOMC statement -- July 6, 1995
Central bank: fed | Type: statement | Date: 1995-07-06

Release Date: July 6, 1995
Chairman Alan Greenspan announced today that the Federal Open Market Committee decided to decrease slightly the degree of pressure on bank reserve positions.
As a result of the monetary tightening initiated in early 1994, inflationary pressures have receded enough to accommodate a modest adjustment in monetary conditions.
Today's action will be reflected in a 25 basis point decline in the federal funds rate from about 6 percent to about 5-3/4 percent.
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