Board of Governors of the Federal Reserve System

Meeting of the Federal Open Market Committee July 6-7, 1981 A meeting of the Federal Open Market Committee was held in the offices of the Board

balance of payments continues to be in a position of substantial basic...balance of payments. To implement this policy, the Committee seeks to

balance continued in substantial surplus in April but at a rate 6/16-17...balance of payments. To implement this policy, while taking account of

balance of payments deficit has remained substantial despite some improvement...balance of payments purposes. To implement this policy, while taking account

balance of payments continues to reflect a substantial underlying deficit...balance of payments purposes. 10/24/67 To implement this policy, while

balance shifted from a substantial deficit in April to a small surplus...balance was at a rate sharply below that in the first quarter of the year

balancing a shrinking uncertainty premium against the tendency for nominal

balance between December and February. Consumer spending was well maintained...balance, the unified budget deficit is estimated at around $200 billion

balance, both the consumer and producer price indexes have risen so far

balances............................. 15 Charts Weighted average exchange...balance, stocks do not appear to be excessive in the trade sector, with