Full text of Federal Reserve Bank of New York Circulars : 3665. Joint Announcement by the Secretary of the Treasury and the Chairman of the Board of Governors, and of the Federal Open Market Committee, of the Federal Reserve System

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FEDERAL RESERVE BANK
O F NEW YORK

r Circular N o. 3 6 6 5 1
I
M arch S, 1951
J

T o all Banking Institutions, and Others Concerned,
in the Second Federal B eserve D istrict:

The following statement was made public on March 4,1951:
J O IN T A N N O U N C E M E N T B Y T H E S E C R E T A R Y O F T H E T R E A S U R Y
A N D T H E C H A IR M A N O F T H E B O A R D O F G O V E R N O R S, A N D
O F T H E F E D E R A L O P E N M A R K E T C O M M IT T E E , O F
TH E FE D E R A L RESER VE SYSTEM

The Treasury and the Federal Reserve System have reached fu ll accord
with respect to debt-management and monetary policies to be pursued in
furthering their common purpose to assure the successful financing o f the
Governm ent’s requirements and, at the same time, to minimize monetization
o f the public debt.




Additional copies of this circular will be furnished upon request.

A

l l a n

S

p r o u l

,

President.