Board of Governors of the Federal Reserve System

2/ Ms. Johnson, 2/ Messrs. Reinhart and Smith, 3/ Assistant Directors,...2/ and Mr. Wilcox, 2/ Senior Economists, Divisions of Research and Statistics

2.1 88.2 -1.3 -15.7 12.4 273.6 7.6 13.0 11.4 7.4 9.9 4.1 2,544.0 9.2 16.8...2.2 31.2 .5 221.1 Short- and intermediate-term business credit 9.4 17.8

2/, Assistant Director, Division of Research and Statistics, Board of ...2/ Attended Monday session only. - 2 - Transcript of Federal Open Market

.2 Though a stringent quality assurance process was employed, some imperfections...2 to 6-1/2 percent over the intermeeting period and are off 12 to 14 percent

2 percent or somewhat less. CHAIRMAN VOLCKER. Okay, 5-1/2 percent or somewhat...2 percent rate; in June we're expecting it to rise at a 10-1/2 percent

2) To make such shifts of securities in the ac count (which may be accomplished...2-

2) of this direction], and (b) that this paragraph shall not limit the...2) To purchase direct from the Treasury for the System open market account

2) To purchase direct from the Treasury for the account of the Federal...2-

2) to make such shifts of securities in the account (which may be accomplished...$2,600,000,000, and pro vided further that the amount of securities held

2(c)(2)(H) of the BHC Act. 12 U.S.C. § 1841(c)(2)(H). 2 See GMAC LLC, ...2); 12 CFR 225.2(e). 10 12 CFR 225.31(d). 11 Cerberus originally committed