Board of Governors of the Federal Reserve System

2 covering open market operations during the period September 22 to Septem

2,350 2,400 2,330 Imports 21.5 -5,800 -1,890 -1,970 -1,940 These trade...$2.6 billion for fiscal year 1966 and $4.2 billion in fiscal 1967. Thus

2 point rise to 115-116 per cent of its 1957 average. While total construction...$2 billion in 1-year bills to replace $1.5 billion in such bills maturing

2/ 2.7 2.0 Services less home finance 1/ 2/ 3.0 3.8 Commodities less food...15.2 Capital equipment -1.1 -.2 Construction and other durables .2 2.2

2.3 0.8 2.0 3.2 4.4 2.8 5.7 0.3 0.5 3.5 -0.9 1.2 0.6 1.7 1.8 2.48 2.4 ...2.7 73.03 4.0 -21.9 14.2 -14.2 0.0 2.0 10.3 16.2 103.1 3.9 587.2 7.0 586.6

2,592 +1,300 +2,000 Nov. - 77 418 4.09 4.08 4.40 4.72 3.34 + 59 - 44 +...4.2 + 7.6 + 4.3 +12.8 1965 - 90 467 4.05 3.95 4.27 4.58 3.16 + 4.2 + 5.1

2.2 3.9 -1.3 - .9 Durable 8.2 -2.0 1.0 4.9 .0 -3.0 Auto 7.8 -3.3 2.4 9.0...2.8 3.4 -1.9 .2 Food 3.7 2.2 4.0 6.2 -2.6 .1 General merchandise 6.3 .4

2.8 -2.2 Trade, total -1.0 15.6 17.3 14.2 .9 .8 Wholesale -2.0 5.1 9.0...2.4 Feb. 9.00 442 9.04 +46 2.2 Mar. 8.95 +42 n.a. n.a. n.a. April 8.90

.2 Though a stringent quality assurance process was employed, some imperfections...2 to $4 billion a quarter in the second half of the year, up from $2.5

2 - Transcript of Federal Open Market Committee Meeting of November 15...2 - we thrust three points on our appeal to the Court of Appeals. The