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REVISED
AGENDA
FEDERAL OPEN MARKET COMMITTEE
Tuesday, September 29,

1998 at 9:00 a.m.

1.

Approval of the minutes for the August 18,

2.

Further consideration of Committee's disclosure policy and
(See memo from
possible rewording of operational paragraph.
Messrs Kohn, Lindsey, and Madigan dated September 24, 1998.)

3.

Foreign currency and domestic open market operations.

4.

5.

1998 meeting.

A.

Report on foreign exchange market developments and
action to ratify the foreign currency transactions,
if any, for System account since the meeting on
August 18, 1998.

B.

Report on domestic market developments and action to
ratify the open market transactions for System account
since the meeting on August 18, 1998.

Economic situation.
A.

Staff report on economic situation.

B.

Committee discussion.

Current monetary policy.
A.

Staff comments.

B.

Committee discussion.

C.

Action to adopt directive.

6.

Report on developments relating to Long-Term Capital Management L.P.
hedge fund.

7.

Confirmation of date for next meeting (Tuesday, November 17,

1998).