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FEDERAL OPEN MARKET COMMITTEE Tuesday, February 2, 1993 at 2:30 p.m. and continuing on Wednesday, February 3, 1993 at 9:00 a.m. Advices of the election of the following members and alternate members of the Federal Open Market Committee for the year commencing January 1, 1993, have been received by the Secretariat, and these individuals have executed their oaths of office. Members E. Gerald Corrigan Edward G. Boehne Silas Keehn Robert D. McTeer, Jr. Gary H. Stern 1. Alternate Members James H. Oltman J. Alfred Broaddus, Jr. Jerry L. Jordan Robert P. Forrestal Robert T. Parry Election of officers to serve until the election of their successors at the first meeting of the Committee after December 31, 1993. A. B. C. Chairman Vice Chairman Staff officers 2. Selection of a Federal Reserve Bank to execute transactions for the System Open Market Account. 3. Selection of (a) Manager of the System Open Market Account, (b) Deputy Manager for Domestic Operations, and (c) Deputy Manager for Foreign Operations. 4. Review of authorization for domestic open market operations. 5. Review of (a) foreign currency authorization, (b) foreign currency directive and (c) procedural instructions with respect to foreign currency operations, including review of "warehousing" authority (Memorandum from Mr. Gillum on incorporated in (a) and (b). updating the Managers' titles in the foreign currency authorization and the procedural instructions and memorandum from Mr. Truman on "warehousing," distributed January 27, 1993.) 6. Acceptance of Report of Examination of the System Open Market Account (distributed January 25, 1993). 7. Approval of minutes of actions taken at the meeting of the Federal Open Market Committee on December 22, 1992. 8. Foreign currency operations. 9. A. Report on operations B. Action to since the meeting on December 22, 1992. ratify transactions, if any, since December meeting. Domestic open market operations. on operations since the meeting on December A. Report B. Action to 22, 1992. ratify transactions since December meeting. 10. Economic situation. 11. 12. A. Staff report on economic situation B. Committee discussion. (Chart Show) Longer-run ranges for monetary aggregates. A. Staff comments B. Committee discussion and action on ranges for 1993. Current monetary policy and domestic A. Staff comments. B. Committee discussion. C. Action to adopt directive. policy directive. 13. Preliminary discussion of proposed Subcommittee report on the (Memorandum to be release of confidential FOMC information. distributed.) 14. Confirmation of date for next meeting (Tuesday, March 23, 1993)
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