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AGENDA
FEDERAL OPEN MARKET COMMITTEE

Tuesday, November 21

1978

9:30 a.m.

1.

Approval of minutes of actions taken at the meeting of
the Federal Open Market Committee on October 17, 1978.

2.

Acceptance of Report of Examination of System Open
Market Account (distributed November 9, 1978).

3.

Foreign currency operations.
A.

B.

Action to ratify transactions since the previous
meeting.

C.

4.

Report on foreign currency operations since the
meeting of the Committee on October 17, 1978.

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

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 October 17, 1978.

B.

Action to ratify transactions since the previous
meeting.

C.

Comments by Economist on prospective financial
relationships.

6.

Current monetary policy and domestic policy directive.

7.

Confirmation of date for next meeting.
December 19, 1978.)

(Tuesday,


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102