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CONFIDENTIAL (FR) Matters for consideration at the meeting of the Federal Open Market Committee to be held on Tuesday, May 25, 1965, at 9:30 a.m. 1. Report by the Special Manager for foreign currency operations on such operations since the meeting of the Federal Open Market Committee on May 11, 1965; action with respect to transactions during such period; and consideration of recommendations of the Special Manager. 2. Report by the Manager of the System Open Market Account on open market operations since the meeting of the Federal Open Market Committee on May 11, 1965; and action with respect to trans- actions during such period. (Chart Show) 3. Reports on economic and financial developments. 4. Discussion of factors bearing on monetary and credit policy; and derivation of consensus regarding open market operations in the forthcoming period. (See attached suggested list of questions relating to this item.) 5. Current economic policy directive to the Federal Reserve Bank of New York. (Copy of May 11, 1965, directive attached.) 6. Confirmation of date for next meeting (June 15, 1965). Attachments
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