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AGENDA FEDERAL OPEN MARKET COMMITTEE Tuesday, February 12, 1985 at 2:30 p.m. and continuing on Wednesday, February 13, 1985, at 9:30 a.m. 1. Election of Committee Vice Chairman. 2. Approval of minutes of actions taken at the meeting of the Federal Open Market Committee on December 17-18, 1984. 3. Foreign currency operations. A. Report on operations since the meeting on December 17-18, 1984. B. Action to ratify transactions since December meeting. 4. Economic outlook and longer-run ranges for monetary aggregates. A. Staff report on economic situation. B. Committee discussion. C. Comments by Staff Director on longer-run ranges. D. Committee discussion and action to establish ranges for 1985. 5. Domestic open market operations. A. Report on operations since the meeting on December 17-18, 1984 B. Action to ratify transactions since December meeting. -2- 6. Current monetary policy and domestic policy directive. A. B. Committee discussion. C. 7. Comments by Staff Director. Action to adopt domestic policy directive. Confirmation of date for next meeting (Tuesday, March 26, 1985).