Nevertheless, he added, many people still expect the policy-setting Federal Open Market Committee to tighten credit in July or August.

The Fed's policy-setting Federal Open Market Committee is set to meet on March 25, and the chances of a rate increase seem to be improving.

In its statement accompanying today's decision, the policy-setting Federal Open Market Committee repeated almost verbatim its previous assessment of the economy.

Mr. Parry is a member of the policy-setting Federal Open Market Committee, which meets next week.

In a statement, the policy-setting Federal Open Market Committee sent a clear signal that today's increase was not likely to be the last.

At a meeting of the policy-setting Federal Open Market Committee, the central bank voted to hold rates steady, as it did at its meeting in January.

By then, its policy-setting Federal Open Market Committee will likely have adjourned.

Today and tomorrow the policy-setting Federal Open Market Committee meets.

The policy-setting Federal Open Market Committee is scheduled to meet on July 5 and 6.

Mr. Greenspan's testimony reflected an apparent split within the central bank's policy-setting Federal Open Market Committee in recent months.