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Market Update : 
FOMC Minutes
Author: 123jump.com Staff
123jump.com
Last Update: 2:41 PM EDT May 21 2008


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Inflation in the United States was elevated in March. Although the increase in food prices slowed in March relative to earlier in the year, energy prices rose sharply. Excluding these categories, core inflation rose at a relatively subdued rate again in March. The core personal consumption expenditures price index increased at a somewhat more moderate rate in the first quarter than in the fourth quarter of 2007.

 
Messrs. Reifschneider and Wascher, Associate Directors, Division of Research and Statistics, Board of Governors

Mr. Gagnon, Visiting Associate Director, Division of Monetary Affairs, Board of Governors

Ms. Martin,1 Associate General Counsel, Legal Division, Board of Governors

Mr. Carpenter,1 Assistant Director, Division of Monetary Affairs, Board of Governors

Mr. Dale, Senior Adviser, Division of Monetary Affairs, Board of Governors

Mr. Oliner, Senior Adviser, Division of Research and Statistics, Board of Governors

Ms. Allison,1 Senior Counsel, Legal Division, Board of Governors

Mr. Gross,1 Special Assistant to the Board, Office of Board Members, Board of Governors

Ms. Weinbach, Adviser, Division of Monetary Affairs, Board of Governors

Mr. Small, Project Manager, Division of Monetary Affairs, Board of Governors

Mr. Luecke, Section Chief, Division of Monetary Affairs, Board of Governors

Ms. Beattie,1 Assistant to the Secretary, Office of the Secretary, Board of Governors

Ms. Low, Open Market Secretariat Specialist, Division of Monetary Affairs, Board of Governors

Ms. Hughes,1 Staff Assistant, Office of the Secretary, Board of Governors

Mr. Fuhrer, Executive Vice President, Federal Reserve Bank of Boston

Messrs. Hilton, McAndrews,1 Rasche, Rudebusch, Steindel, Sullivan, and Weinberg, Senior Vice Presidents, Federal Reserve Banks of New York, New York, St. Louis, San Francisco, New York, Chicago, and Richmond, respectively

Messrs. Clark and Meyer,1 Vice Presidents, Federal Reserve Banks of Kansas City and Philadelphia, respectively

Mr. Weber, Senior Research Officer, Federal Reserve Bank of Minneapolis

Mr. Roberds, Policy Adviser, Federal Reserve Bank of Atlanta

1. Attended portion of the meeting relating to the implications of interest on reserves for monetary policy implementation. Return to text
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