View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

CONFIDENTIAL (FR)
FOMC
CLASS II

AGENDA
FEDERAL OPEN MARKET COMMITTEE
Tuesday, May 18, 1976
9:00 a.m.

1.

Executive session.

2.

Approval of minutes of actions taken at the meeting of the
Federal Open Market Committee on April 20, 1976.

3. Foreign currency operations.
A, Report on foreign currency operations since the
meeting of the Committee on April 20, 1976.
B. Action to approve, ratify, and confirm transactions
since the previous meeting.
C.

Consideration of Manager's recommendations with
respect to foreign currency operations.

4. Economic and financial situation and outlook.
A.

Staff comments.

B. General Committee discussion,

-2-

5. Domestic open market operations.
A.

Report on open market operations since the meeting
of the Committee on April 20, 1976.

B. Action to approve, ratify, and confirm transactions
since previous meeting,
C.

Comments by Economist (Domestic Finance) on prospective
financial relationships,

6. Current monetary policy and domestic policy directive to
be issued to Federal Reserve Bank of New York.
(Copy of April 20, 1976, directive attached.)

7. Discussion of System operations in FNMA securities.
(See forthcoming memorandum from Messrs. Axilrod and Holmes.)

8. Confirmation of date for next meeting (Tuesday, June 22, 1976).