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AGENDA
FEDERAL OPEN MARKET COMMITTEE
Tuesday, May 19,

1998 at 9:00

1.

Approval of the minutes for the March 31,

2.

Foreign currency and domestic

3.

4.

a.m.

1998 meeting.

open market operations.

A.

Report on foreign exchange market developments and
action to ratify the foreign currency transactions
for System account, if any, since the meeting on
March 31, 1998.

B.

Report on domestic market developments and action to
ratify the open market transactions for System account
since the meeting on March 31, 1998.

Economic

situation.

A.

Staff report on economic situation.

B.

Committee discussion.

Current monetary policy.
A.

Staff comments.

B.

Committee discussion.

D.

Action to adopt directive.

5.

Committee consideration of alternatives for its disclosure
(Memoranda from Messrs. Kohn and Lindsey dated
policy.
May 12, 1998)

6.

Confirmation of date for next meeting
June 30-July 1, 1998)

(Tuesday-Wednesday,