Board of Governors of the Federal Reserve System

and/or longer-term U. S. Gov ernment securities of any maturity, or to...approaching an inflationary status and had already tended to damage the

approaching an inflationary status and had already tended to damage the...and/or longer-term Government securities of any maturity, or to change

and, over the long run, to offer additional incen tive for the accumulation...and/or longer-term U. S. Gov ernment securities of any maturity, or to

POLICY ACTIONS, 1961 Period January February August September December...and, over the long run, to offer additional incen tive for the accumulation

policy record entries The current economic policy directive that was in...and, within the total, private residential construction continued to rise

policy in the period before the financing, in view of the continued expansion...policy that had been in effect for the past several weeks, and the follow

Policy Actions taken by the Committee on February 13, 1962, for entry ...policy for the coming 3 weeks. On the one hand, domestic developments

approach the established maximum. The Bank shall also, where practicable...approach zero. Spot transactions at rates other than those set forth in

policy called for by these developments were generally small. Most members...policy directive were intended to make clear that the general policy in

policy directive were intended to make clear that the general policy in...and, in his opinion, had encouraged specula tive operations in all maturities