Donald L Kohn: Regulatory reform proposals Remarks by Mr Donald L Kohn, Member of the Board of Governors of the US Federal Reserve System, before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate, 22 June 2004.
  Reflecting all of these factors, the Bank yesterday maintained the target for the overnight rate at 1 per cent. In light of the reduced slack in the economy and firmer underlying inflation, some modest withdrawal of the present considerable monetary policy stimulus may become appropriate, consistent with achieving the 2 per cent inflation target over the medium term.