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BOARD OF GOVERNORS or THE FEDERAL RESERVE SYSTEM Office Correspondence Xo •Rofl.-rri of Governors From Date—May ?<?, Subject I "Ralph A. Yonng As background for Board discussion of Regulation W policy at its meeting on May 31st, there is attached a staff analysis of the current situation in the durable goods markets. The memorandum "was prepared by the Business Conditions Section of the Division of Research and Statistics, under the supervision of Mr. Clayton Gehman. Following a recent House Banking and Currency Committee discussion of the consumer durable good.s situation, Mr. Hallahan, Clerk of that Committee, addressed to Chairman Martin on May l8th a Committee request for such information as the Board might have at its disposal on market conditions in the household durables area. This request followed upon a preceding one from Congressman Patman relating to conditions in the new and used car market. If there is no objection by the Board, it is suggested that the attached memorandum, with some technical revisions and excluding the strictly confidential supplement on retail automobile sales and stocks, be made available for the confidential information of the members of the House Banking and Currency Committee . Attachment
