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Authorized for Public Release
Class III FOMC – Internal (FR)

AGENDA
FEDERAL OPEN MARKET COMMITTEE
Tuesday, July 31, 2018, at 10:00 a.m.
and continuing on
Wednesday, August 1, 2018, at 9:00 a.m.
1. Special Topic: Monetary Policy Options at the Effective Lower Bound
A. Staff report. (See background memo dated July 18, 2018.)
B. Opportunity for Committee participants to comment.
(See questions distributed with background memo on July 18, 2018.)
2. Financial developments and open market operations.
A. Staff report on market developments and operations.
B. Action to ratify the open market transactions for the System account since the
June meeting.
3. Economic and financial situation.
A. Staff report.
B. Opportunity for Committee participants to comment on financial stability issues.
(See documents distributed July 23, 2018.)
C. Committee discussion of economic developments and outlook.
4. Current monetary policy.
A. Staff comments.
B. Committee discussion.
C. Action to adopt directive and statement.
5. Confirmation of the date for the next meeting (Tuesday–Wednesday, September 25–
26, 2018).

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