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Prime Rate

also known as the Fed, National, U.S. and WSJ Prime Rate

Friday, September 09, 2005

An Adjustment to The 2006 Federal Open Market Committee (FOMC) Meeting Schedule

A change to the 2006 Federal Open Market Committee (FOMC) meeting schedule was announced today. The schedule change is related to the conclusion of Dr. Alan Greenspan's term as Chairman of the Board of Governors of the Federal Reserve System.

Basically, the Committee doesn't want to have any meetings with 2 Fed Chairmen, so Mr. Greenspan will attend his last FOMC meeting on Tuesday, January 31, 2006, which is the same day that he is set to officially step down.

Here's a snippet from today's release:

"The Federal Open Market Committee on Friday announced a change in its tentative meeting schedule for 2006.

The Committee plans to hold its first scheduled meeting of the year on Tuesday, January 31. It had previously planned to meet for two days: January 31 and February 1. This schedule change avoids a meeting that spans the terms of two Chairmen.

In keeping with past practice, Chairman Greenspan plans to attend this meeting."



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