• Embed Doc
  • Copy Link
  • Readcast
  • Collections
  • CommentGo Back
Download
 
 
TRANSCRIPTFEDERAL OPEN MARKET COMMITTEE MEETINGJune 20, 1978Prefatory NoteThis transcript has been produced from the original raw transcript in the FOMCSecretariat's files. The Secretariat has lightly edited the original to facilitate the reader'sunderstanding. Where one or more words were missed or garbled in the transcription, thenotation "unintelligible" has been inserted. In some instances, words have been added inbrackets to complete a speaker's thought or to correct an obvious transcription error ormisstatement.Errors undoubtedly remain. The raw transcript was not fully edited for accuracyat the time it was produced because it was intended only as an aid to the Secretariat inpreparing the record of the Committee's policy actions. The edited transcript has not beenreviewed by present or past members of the Committee.Aside from the editing to facilitate the reader's understanding, the only deletionsinvolve a very small amount of confidential information regarding foreign central banks,businesses, and persons that are identified or identifiable. Deleted passages are indicated bygaps in the text. All information deleted in this manner is exempt from disclosure underapplicable provisions of the Freedom of Information Act.Staff Statements Appended to the TranscriptMr. Pardee, Deputy Manager for Foreign OperationsMr. Kichline, Associate EconomistMr. Sternlight, Deputy Manager for Domestic OperationsMr. Axilrod, Economist
 
Meeting
of
Federal
Open Market
Committee
June
20,
1978
 
A
meeting
of
the
Federal
Open
Market Committee
was held
in
theofficesof
the
Board
of
Governors
of
the
FederalReserveSystem
in
Washington,
D.
C.,
on
Tuesday,
June
20,
1978,
at 9:15
a.m.
PRESENT:
Mr.
Mr.
Mr.Mr.
Mr.
Mr.Mr.
Mr.
Mr.
Mr.
Mr.
Miller,
Chairman
Volcker,
Vice
ChairmanBaughman
Coldwell
Eastburn
GardnerJackson
ParteeWallichWilles
Winn
Messrs.
Balles,Black,
Kimbrel,
and
Mayo,Alternate
Members
oftheFederalOpen
Market
Committee
Messrs.
Guffey,
Morris,
and
Roos,
Presidents
of
the
Federal Reserve
Banks
of
Kansas
City,
Boston,
and
St.
Louis,respectively
Mr.
Mr.
Mr.
Mr.
Broida,
SecretaryBernard,
Assistant
Secretary
O'Connell,
General CounselAxilrod,EconomistMessrs.
Burns,
J.Davis,R.
Davis,
Ettin,
Keir,
Kichline,
Paulus,
Truman,
andZeisel,
Associate
Economists
Mr.
Holmes,
Manager,
System
Open
Market
AccountMr.
Pardee,
Deputy Manager
for
Foreign
Operations
Mr.
Sternlight,
Deputy
Manager
for
Domestic
Operations
 
 
6/20/78
Mr.Kalchbrenner,
Associate
Director,
Division
of
Research
and Statistics,Board of
GovernorsMr.Siegman,
Associate
Director,Division
of
InternationalFinance,
Board
of
GovernorsMr. O'Brien,SpecialAssistant
totheBoard
of
GovernorsMr.Smith, Chief,Financial
Markets
Section,Division
of
InternationalFinance,
Board
of
Governors
Ms.
Farar, Economist,Open Market
Secretariat,Board
of
GovernorsMrs. Deck,StaffAssistant,
Open
MarketSecretariat,
Boardof
GovernorsMessrs.Balbach,Boehne,
T.
Davis,Eisenmenger,
Scheld,
and
Sims,
SeniorVicePresidents,FederalReserve
Banks
of
St.Louis,
Philadelphia,Kansas
City,
Boston,Chicago,
and
San Francisco,respectivelyMessrs.
Brandt
andBroaddus,Vice
Presidents,Federal
Reserve
Banks
of
Atlanta
and
Richmond,respectively
Mr.
Ozog,
Manager,
Securities Department, FederalReserve
Bank
of
New York
 
of 00

Leave a Comment

You must be to leave a comment.
Submit
Characters: ...
You must be to leave a comment.
Submit
Characters: ...