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When Did the FOMC Begin Targeting the Federal Funds Rate? What the Verbatim Transcripts Tell Us

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Table 1: Federal Funds Rate Target: September 1982 – December 31, 1993  Date  ff  T Date  ff  T 09/27/1982c 10.25 8/27/1987 6.75  10/1/1982 10  9/3/1987 6.875  10/7/1982 9.5  9/4/1987 7.25  11/19/1982m 9  9/24/1987 7.3125  12/14/1982 8.5 11/04/1987m 6.8125

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