But, of course, as we stated in June, the Committee would be prepared to resume reinvestments if a material deterioration in the economic outlook were to warrant a sizable reduction in the federal funds rate. Also at our September meeting, the Committee decided to maintain its target for the federal funds rate.
The nice thing about the Cultural Days is that, each year, we can enjoy a programme of first-rate cultural events, and they also give emerging talents a chance to perform in front of a wide audience. The opening events are particularly exciting in that they give the upbeat to several weeks of varied performances.