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Class III FOMC – Internal (FR)

AGENDA
FEDERAL OPEN MARKET COMMITTEE
Tuesday, January 29, 2008 at 2:00 p.m.
and continuing on
Wednesday, January 30, 2008 at 9:00 a.m.

Advices of the election of the following members and alternate members of the Federal
Open Market Committee for a term commencing January 29, 2008 have been received by
the Secretariat, and these individuals have executed their oaths of office.
Members
Timothy F. Geithner
Charles I. Plosser
Sandra Pianalto
Richard W. Fisher
Gary H. Stern

Alternate Members
Christine M. Cumming
Jeffrey M. Lacker
Charles L. Evans
Dennis P. Lockhart
Janet L. Yellen

1. Election of Committee officers.
A. Chairman
B. Vice Chairman
C. Staff officers
2. Proposed changes to Committee rules. (See memo from Scott Alvarez and Deborah
Danker dated January 18, 2008.)
3. Selection of a Federal Reserve Bank to execute transactions for the System Open
Market Account.
4. Selection of a Manager of the System Open Market Account.
5. Proposed revision to the Authorization for Foreign Currency Operations. (See
forthcoming memo from William Dudley.)
6. Review of the Authorization for Domestic Open Market Operations, the Foreign
Currency Directive, and the Procedural Instructions with Respect to Foreign Currency
Operations. (See forthcoming memo from William Dudley.)

Class III FOMC – Internal (FR)

7. Foreign currency and domestic open market operations.
A. Report on market developments.
B. Action to ratify the open market transactions for the System account since the
December meeting.
8. Economic situation.
A. Staff report (Chart Show).
B. Committee discussion.
9. Current monetary policy.
A. Staff comments.
B. Committee discussion of the policy statement.
C. Action to adopt directive and statement.
10. Analysis of policy issues raised by financial market developments. (See memo from
the Staff Umbrella Group on Financial Stability sent to the Committee on January 18,
2008.)
A. Staff comments.
B. Committee discussion.
11. Confirmation of the date for the next meeting (Tuesday, March 18, 2008).