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AGENDA
FEDERAL OPEN MARKET COMMITTEE
Tuesday, May 7, 2002 at 9:00 a.m.

1. 	 Approval of the minutes for the March 19, 2002, meeting.
2. 	 Foreign currency and domestic open market operations.
A. 	 Report on foreign exchange market developments.
B. 	 Report on domestic market developments and action to ratify the open market
transactions for System account since the meeting on March 19, 2002.
C. 	 Renewal of reciprocal currency arrangements with Canada and Mexico.
3. 	 Economic situation.
A. 	 Staff report on economic situation.
B. 	 Committee discussion.
4. 	 Current monetary policy.
A. 	 Staff comments.
B. 	 Committee discussion.
C. 	 Action to adopt directive.
5. 	 Confirmation of date for next meeting (Tuesday-Wednesday, June 25-26, 2002).