Board of Governors of the Federal Reserve System

policy and strategic motives by manufacturers, not a passing along of

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JACKSON MS NAT 7,230 7,230 100 82 136 0 N 0 0 TRUSTMARK CORP 101 5 310727

policy purposes, and you solicited the views of the members of the FOMC...and evaluation) of monetary actions. See, for example, "The Fifth Report

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Policy by Michelle W. Bowman Member Board of Governors of the Federal ...percent—and we continue to reduce the Fed’s securities holdings. Since

and your family) are better off, the same, or worse off financially? Response...and your family) are better off, the same, or worse off financially? Response

policy, and pursuant to our constitutional duties concerning monetary policy, we pass on to you our judgment that monetary policy during 1977

approach for securing more satisfactory statements from the dealers based...approach sug- gested here, the uniform statement should be discussed with