View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

BOARD OF GOVERNORS
OF

THE

FEDERAL RESERVE SYSTEM

Office Correspondence
Governor Bocl eg
From

Mr• Thomas

Date
Subject! Investment opinion eonoerning
the Government bond support policy

On April 12th Mr* Koch of our staff attended a dinner
conference in New York City on the business and securities outlook • This conference -was sponsored by Elisha 1 • Friedman, a
1
consultant economist in the investment trust field. It was
attended primarily by New York investraent trust and investment
banking people*

1

In the course of the conference there was considerable
discussion concerning the Federal Reserved Government bond
support policy* It is of inberest to note that although throughout the discussion there was considerable criticism concerning the
present support policy, at the conclusion of the discussion when
a vote was taken as to the consensus of opinion on the policy,
17 voted to continue it as present, 2 voted to discontinue all
support, and 6 voted for a more elastic policy*