US News (Late March 1994) - "Interest Rates: The Fed Strikes Again"
This article covers a brief explanation of exactly what the Fed did, covering the major factors and influences of the Fed's actions. It pays special attention on the issue of inflation, and how different forecasters will interpret the Fed's actions. Overall, this article gives the reader a good understanding of what took place, and what repercussions are likely to come about because of it.
The Wall Street Journal (Mon. March 28, 1994) - "Fed Was Divided on Rate-Rise Size Voted in February"
This article shows an interesting perspective of the Fed. It discusses the fact that the Fed's policy makers were somewhat split between those who were looking for a "slight" increase as opposed to one of "somewhat greater" magnitude. This article is interesting because it shows that even the Fed can be uncertain about what is best for the economy, but it still focuses on the power of Allen Greenspan, as well as the committee as a whole. It compares the two arguments of each method, and shows a weakness in the Fed that may have been unknown to the reader before.