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AGENDA
FEDERAL OPEN MARKET COMMITTEE
Tuesday, August 15, 1978
9:30 a.m.

1.

Election of secretary to serve until the election of a
successor at the first regular meeting of the Committee
after February 28, 1979.

2.

Approval of minutes of actions taken at the meeting of
the Federal Open Market Committee on July 18, 1978.

3.

Foreign currency operations.
A.

B.

Action to ratify transactions since the previous
meeting.

C.

4.

Report on foreign currency operations since the
meeting of the Committee on July 18, 1978.

Consideration of Manager's recommendations with
respect to foreign currency operations.

Economic and financial situation and outlook.
A.

Staff comments.

B.

General Committee discussion.

-2-

5.

Domestic open market operations.
A.

Report on open market operations since the meeting
of the Committee on July 18, 1978.

B.

Action to ratify transactions since the previous
meeting.

C.

Comments by Economist on prospective financial
relationships.

6.

Current monetary policy and domestic policy directive.

7.

Confirmation of date for next meeting.
September 19, 1978.)

(Tuesday,