Full text of Statements and Speeches of Karl R. Bopp : Field Meeting held at Americus Hotel, Allentown, Pa. : Notes

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Field Meeting held at Americus Hotel,
Allentown, Pa., on Wednesday, April 8, 1959.

Thank Frank M. Cline

(President, Liberty Bank & Trust Co., Allentown).

1.

Great pleasure on behalf of the Federal Reserve Bank to welcome you
to the 1959 edition of our Field Meeting Program.

2.

You are a large audience.
257 from 84. banks in Berks County
Carbon County
Lehigh County
(a)

Northampton County
Schuylkill County

I shall limit my introductions of your neighbors to
members of the Federal Reserve Relations Committee:
(1) Frank M. Cline

Pres., Liberty Bank & Trust Co., Allentown

(2) John J. McCartney Pres., National Bank of Catasauqua

3»

(3) E. H. Byers

Cashier, National Bank of Hamburg

(4) Harold L. Reese

Cashier, Union National Bank, Shenandoah

One purpose of meeting is to become better acquainted:
my colleagues to stand:

I shall ask

(1) Ed Aff
(2) Evan Alderfer, Economic Adviser
(3) Joe Campbell,

Bank Examination

(4) Ray Leek, Bank Relations
(5) Harold Ikeler, Bank Relations and Bank Examination

4*

Describe Field Meeting Program.




Allentown Field Meeting, p. 2

AFTER WALLY

We move next to Economic Developments and Monetary Policy.

Last time I described process of policy formation:
Board of Directors meets every two weeks to
(a) Determine general policy of Bank and
(b) Establish the discount rate.

I attend Federal Open Market Committee meeting
every three weeks.

Preparation for these meetings -




(a) Economic Developments and forces.