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CONFIDENTIAL (FR) Matters for consideration at the meeting of the Federal Open Market Committee to be held on Tuesday, October 8, 1968, at 9:30 a.m. 1. Approval of the minutes of actions taken at the meeting of the Federal Open Market Committee on September 10, 1968. 2. Acceptance of memorandum of discussion for the meeting of the Federal Open Market Committee on September 10, 1968. 3. Report by the Special Manager for foreign currency operations on such operations since the meeting of the Federal Open Market Committee on September 10, 1968; action with respect to transactions during such period; and consideration of recommendations of the Special Manager. 4. Report by the Manager of the System Open Market Account on open market operations since the meeting of the Federal Open Market Committee on September 10, 1968; and action with respect to transactions during such period. 5. Staff reports on economic and financial developments. 6. Discussion of factors bearing on monetary and credit policy; and derivation of consensus regarding open market operations in the forthcoming period. 7. Current economic policy directive to the Federal Reserve Bank of New York. (Copy of September 10, 1968, directive attached.) 8. Consideration of two policy papers from the Steering Committee of the U.S. Government Securities Market Study: #7, "Official Relationship to the Market," and #8, "Use of Federal Reserve Resources to Finance Dealers." (Both papers, dated July 22, 1968, were distributed on July 23, 1968.) 9. Confirmation of date for next meeting (October 29, 1968). Attachment
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