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AGENDA FEDERAL OPEN MARKET COMMITTEE Tuesday, September 20 1977 9:30 a.m. 1. Approval of minutes of actions taken at the meeting of the Federal Open Market Committee on August 16, 1977. 2. Foreign currency operations. A. B. Action to approve, ratify, and confirm transactions since the previous meeting. C. 3. Report on foreign currency operations since the meeting of the Committee on August 16, 1977. Consideration of Manager's recommendations with respect to foreign currency operations. Economic and financial situation and outlook. A. B. 4. Staff comments. General Committee discussion. Domestic open market operations. A. Report on open market operations since the meeting of the Committee on August 16, 1977. -2- B. Action to approve, ratify, and confirm transactions since the previous meeting. C. Comments by Economist on prospective financial relationships. 5. Current monetary policy and domestic policy directive to be issued to Federal Reserve Bank of New York. (Copy of August 16, 1977, directive attached.) 6. Confirmation of date for next meeting. October 18, 1977.) (Tuesday,
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