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CONFIDENTIAL (FR)
Matters for consideration at the meeting of the Federal Open Market
Committee to be held on Tuesday, September 10, 1968, at 9:30 a.m.

1.

Approval of the minutes of actions taken at the meetings of the
Federal Open Market Committee on August 13 and 19, 1968.

2.

Acceptance of memorandum of discussion for the meetings of the
Federal Open Market Committee on August 13 and 19, 1968.

3.

Report by the Special Manager for foreign currency operations on
such operations since the meeting of the Federal Open Market Committee on August 13, 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 August 13, 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 August 19, 1968, directive attached.)

8.

Further consideration of proposal regarding System lending of
Government securities. (See forthcoming memorandum from Account
Manager.)

9.

Confirmation

Attachment

of date for next meeting (October 8, 1968).