Board of Governors of the Federal Reserve System

policy actions taken by the Federal Open Market Committee at its meeting...POLICY ACTIONS OF THE FEDERAL OPEN MARKET COMMITTEE Meeting held on August

and-loan-account privileges, was August 30. It was reported that the Treasury...and the money supply--again rose substantially on average, although growth

and the money supply--were expected to rise only slightly. Many members...and, more importantly, the November refunding soon to follow also were

background of tight labor markets and recent rapid increases in consumer...and further advances were anticipated in most major categories of final

policy actions taken by the Federal Open Market Committee at its meeting...approaching the record level reached toward the end of 1966. It appeared

policy actions taken by the Federal Open Market Commitee at its meetings...background of the discussions by the central bank governors at their meeting

policy actions taken by the Federal Open Market Committee at its meetings...background of the massive international flows of funds that followed the

policy actions taken by the Federal Open Market Commit tee at its meeting...and the downtrend was reinforced by press reports suggesting that prospects

and- contrary to earlier expectations--some further growth in defense ...background, a number of members indicated that they had been disturbed

policy actions taken by the Federal Open Market Commit tee at its meeting...and, late in the period, by sizable pur chases by foreign central banks