Board of Governors of the Federal Reserve System

Prefatory Note The attached document represents the most complete and accurate version available based on original copies culled from the files

Prefatory Note The attached document represents the most complete and accurate version available based on original copies culled from the files

balances around mid-year was a very temporary phenomenon, perhaps resulting...balance are a shade higher than at the time of the last FOMC meeting,

balance in the latter part of June and early July, as the squeeze on bank...balance, the System will probably absorb reserves during the last half

balance between now and the next meeting of the Committee, although the...balance/ will have to be drawn down as the mid-December cash low approaches

balance of payments. 6/18/74 Mr. Bryant observed that it was almost surely

balance of payments equilibrium not dependent on significant government...balances and obtained by swap drawings. The decision to intervene was

balance has changed little since then. In August the U.S. foreign trade...balance since mid-August while long-term rates have risen considerably

balance during the first half of the year. Consumer spending has remained...balance since the August 19 meeting of the Committee. Preliminary data

balance over the previous several months. Growth in consumer spending ...balance over the intermeeting period. Expansion of M2 and M3 strengthened