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Authorized for public release by the FOMC Secretariat on 8/21/2020 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM WASHINGTON, D. C. 20551 CONFIDENTIAL (FR) July 19, 1973 To: Federal Open Market Committee From: Arthur L. Broida Subject: Subcommittee on directive At its July 17 meeting the Open Market Committee agreed that a Subcommittee should be designated to undertake a new examination of the procedures for formulating and implementing the Committee's domestic policy directive. For your information, Chairman Burns has named Messrs. Balles, Daane, Morris, and Holland (Chairman) as members of this Subcommittee. Mr. Axilrod will serve as secretary of the Subcommittee. Other staff assistance will be secured as needed. Arthur L. Broida Secretary Federal Open Market Committee
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