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A meeting of the executive committee of the Federal Open
Market Committee was held in the offices of the Board of Governors
of the Federal Reserve System in Washington on Monday, January 25,
1943, at 10:10 a.m.
PRESENT:

Mr.
Mr.
Mr.
Mr.
Mr.

Eccles, Chairman
Sproul, Vice Chairman
Szymczak
Draper
Alfred H. Williams

Mr. Morrill, Secretary
Mr. Carpenter, Assistant Secretary
Mr. John H. Williams, Associate Economist
Mr. Wyatt, General Counsel
Mr. Dreibelbis, Assistant General Counsel
Mr. Rouse, Manager of the System Open Mar
ket Account
Mr. Clayton, Assistant to the Chairman of
the Board of Governors
Mr. Thurston, Special Assistant to the
Chairman of the Board of Governors
Mr. Piser, Chief, Government Securities
Section, Division of Research and
Statistics of the Board of Governors
Mr. Berntson, Clerk in the Office of the
Secretary of the Board of Governors
Messrs. McKee, Ransom, Evans, Gilbert, Young,
and Leedy, members of the Federal Open
Market Committee
Messrs. Paddock, Fleming, McLarin, Davis, and
Day, alternate members of the Federal Open
Market Committee
Messrs. Leach and Peyton, Presidents of the
Federal Reserve Banks of Richmond and
Minneapolis, respectively
Mr. Sienkiewicz, Secretary of the Presidents'
Conference
Mr. Edmiston, Assistant Vice President of the
Federal Reserve Bank of St. Louis

1/25/43

-2
Upon motion duly made and seconded,
and by unanimous vote, the minutes of the
meeting of the executive committee of the
Federal Open Market Committee held on De
cember 14, 1942, were approved.
Upon motion duly made and seconded,
and by unanimous vote, the transactions in
the System account during the period from
December 14, 1942, to January 23, 1943, in
clusive, as reported daily by the Federal
Reserve Bank of New York to the members of
the executive committee, were approved,
ratified, and confirmed.
Thereupon, the meeting recessed to reconvene following the

meeting of the Federal Open Market Committee.

Secretary.

Approved:
Chairman.