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AGENDA
FEDERAL OPEN MARKET COMMITTEE
Wednesday,

June 29, 1988 at 3:00 p.m.
and continuing on

Thursday, June 30, 1988 at 9:00 a.m.

1.

Approval of minutes of actions taken at the meeting of the Federal
Open Market Committee on May 17, 1988.

2.

Foreign currency operations.
A.
B.

3.

Report on operations since the meeting on May 17, 1988.
Action to ratify transactions since the May meeting.

Domestic open market operations.
A.
B.

4.

Report on operations since the meeting on May 17, 1988.
Action to ratify transactions since the May meeting.

Economic situation.
A.
B.

5.

Staff report on economic situation (Chart Show).
Committee discussion.

Longer-run ranges for monetary policy.
A.

Staff comments.

B.

Committee discussion and actions on longer-run ranges.
1.
2.

6.

Review of ranges for 1988.
Establishment of tentative ranges for 1989.

Current monetary policy and domestic policy directive.
A.

Staff comments.

B.

Committee discussion.

C. Action to adopt directive.
7. Confirmation of date for next meeting (Tuesday, August 16, 1988).