The FOMC met in the summer of 1995 to discuss the trajectory of the economy and to conduct monetary policy.They had access to the following data:

FRED * Guilian Labor Force Participation Rate: 25 to 54 years Employment Population Ratio: 25 - 54 years 85 83 80 Percent 79 78 77 76 75 74 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016Real Hourly Wages 10th Real Hourly Wages 50th Real Hourly Wages 90th Year Percentile (2016 Dollars) Percentile (2016 Dollars) Percentile (2016 Dollars) 1980 100 100 100 1994 91.43 98.28 111.20 % Change between 1980 and 1994 -8.57% -1.72% 11.20% Real Hourly Wages 10th Real Hourly Wages 50th Real Hourly Wages 90th Year Percentile (2016 Dollars) | Percentile (2016 Dollars) | Percentile (2016 Dollars) 1995 100 100 100 1996 99.37 100.44 100.23 1997 103.53 102.98 102.03 1998 109.71 105.83 104.98 1999 110.21 108.94 107.09 2000 112.23 107.98 108.44 % Change between 1995 and 2000 12.23% 7.98% 8.44%CPI-Excluding Food and Energy Prices Date (Compounded Annual Rate) Civilian Unemployment Rate 1/1/95 5.4 5.6 2/1/95 3.1 5.4 3/1/95 3.8 5.4 4/1/95 3.8 5.8 5/1/95 2.3 5.6FRED . Consumer Price Index for All Urban Consumers: All Items Less Food and Energy Civilian Unemployment Rate 6.0 5.5 5.0 4.5 Compounded Annual Rate of Change , Percent 40 3.5 3.0 2.5 2.0 Apr 1995 May 1995 Feb 1995 Mar 1995Date Real Gross Domestic Product (Percent Change from Preceding Period, Quarterly, Seasonally Adjusted Annual Rate) 1/1/94 4.0 4/1/94 5.6 7/1/94 2.4 10/1/94 4.6 1/1/95 1.4\fFRED . Civilian Unemployment Rate Natural Rate of Unemployment (Long-Term) Consumer Price Index for All Urban Consumers: All Items Less Food and Energy 6.0 5.5 5.0 4.5 4.0 Percent , Percent Change from Year Ago 3.5 3.0 2.5 2.0 1.5 Jan 1996 Jul 1996 Jan 1997 Jul 1997 Jan 1998 Jul 1998 Jan 1999 Jul 1999 Jan 2000 Jul 2000FRED - Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over 340 335 330 1982-84 CPI Adjusted Dollars 325 320 315 310 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 FRED - Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over 340 335 330 1982-84 CPI Adjusted Dollars 325 320 315 310 Q1 1996 Q3 1996 Q1 1997 Q3 1997 Q1 1998 Q3 1998 Q1 1999 Q3 1999 Q1 2000 Q3 2000Real Hourly Wages 10th Real Hourly Wages 50th Real Hourly Wages 90th Year Percentile (2016 Dollars) Percentile (2016 Dollars) Percentile (2016 Dollars) 1980 100 100 100 1994 91.43 98.28 111.20 % Change between 1980 and 1994 Real Hourly Wages 10th Real Hourly Wages 50th Real Hourly Wages 90th Year Percentile (2016 Dollars) Percentile (2016 Dollars) Percentile (2016 Dollars) 1995 100 100 100 1996 99.37 100.44 100.23 1997 103.53 102.98 102.03 1998 109.71 105.83 104.98 1999 110.21 108.94 107.09 2000 112.23 107.98 108.44 % Change between 1995 and 2000