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BIBLIOGRAPHY

Open Market Operations — FOMC's target federal funds rate or range, change (basis points) and level (2003〜)

Board of Governors of the Federal Reserve System

Claims Supported by This Source

  1. 2004: June 30, 1.25%; Aug 10, 1.50%; Sep 21, 1.75%; Nov 10, 2.00%; Dec 14, 2.25%. 2005: 8 times from 2.50% on Feb 2 to 4.25% on Dec 13. All were 25bp increases, continuing 17 times until reaching 5.25% on June 29, 2006 (table reread on 2026-10-23).
  2. 2006: Jan 31, 4.50%; Mar 28, 4.75%; May 10, 5.00%; Jun 29, 5.25% (each a 25bp hike).
  3. 2007: Sep 18, 50bp cut to 4.75%; Oct 31, 25bp cut to 4.50%; Dec 11, 25bp cut to 4.25%.
  4. 2008: Jan 22, 75bp cut to 3.50%; Jan 30, 50bp cut to 3.00%; Mar 18, 75bp cut to 2.25%; Apr 30, 25bp cut to 2.00%; Oct 8, 50bp cut to 1.50%; Oct 29, 50bp cut to 1.00%; Dec 16, 75–100bp cut to 0–0.25%.
  5. From the end of 2008 to October 2014, holdings were significantly increased through purchases of long-term securities (per page explanation).

How to read the verification levels. 'Read' means the material was read in its entirety. 'Bibliography and abstract confirmed' means the bibliographic information and abstract were verified. 'Via course material' means the source was referenced through the main text of a book or a country's monetary history. The text hash is the SHA-256 of the main text from the original source page, excluding tags and whitespace, used to detect if the material has been altered.