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AGENDA
FEDERAL OPEN MARKET COMMITTEE
Tuesday, August 16, 1977

9:00 a.m.

1.

Executive session.

2.

Approval of minutes of actions taken at the meeting
of the Federal Open Market Committee on July 19, 1977.

3.

Foreign currency operations.

4.

A.

Report on foreign currency operations since
the meeting of the Committee on July 19, 1977.

B.

Action to approve, ratify, and confirm transactions
since the previous meeting.

C.

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 19, 1977.

B.

Action to approve, ratify, and confirm transactions
since the previous meeting.

C.

Comments by Economist on prospective financial
relationships.

6.

Current monetary policy and domestic policy directive
to be issued to Federal Reserve Bank of New York.
(Copy of July 19, 1977, directive attached.)

7.

Confirmation of date for next meeting.
(Tuesday, September 20, 1977.)