FOMC Minutes

Meeting of Federal Open Market Committee November 8, 1976 MINUTES OF ACTIONS A meeting of the Federal Open Market Committee was held on Monday, November 8, of Chairman Burns. 1976, at 10:00 a.m., at the call This was a telephone conference meeting, and each individual was in Washington, D. C., except as otherwise indicated in parentheses in the following list of those participating. PARTICIPATING: Mr. Burns, Chairman Mr. Black Mr. Coldwell Mr. Gardner Mr. Jackson Mr. Kimbrel Mr. Lilly Mr. Partee Mr. Wallich Mr. Winn Mr. Guffey, Alternate for Mr. Balles Mr. Timlen, Alternate for Mr. Volcker (Richmond) (Dallas) (Miami) (Cincinnati) (Kansas City) (New York) Mr. Baughman, Alternate Member of the Federal Open Market Committee (Dallas) Mr. Broida, Secretary Mr. Altmann, Deputy Secretary Mr. Bernard, Assistant Secretary Mr. O'Connell, General Counsel Mr. Axilrod, Economist (Domestic Finance) Mr. Gramley, Economist (Domestic Business) - 11/8/76 2 - Messrs. Davis (New York), Kichline, Parthemos (Richmond), and Zeisel, Associate Economists Mr. Sternlight, Deputy Manager for Domestic Operations (New York) Messrs. Coyne and Keir, Assistants to the Board of Governors Mr. Gemmill, Adviser, Division of International Finance, Board of Governors Mrs. Farar, Economist, Open Market Secretariat, Board of Governors Mrs. Deck, Staff Assistant, Open Market Secretariat, Board of Governors Mr. Doll, Senior Vice President, Federal Reserve Bank of Kansas City (Kansas City) Messrs. Davis (Kansas City), Green (Dallas), Snellings (Richmond), and Willey (New York), Vice Presidents, Federal Reserve Banks of Kansas City, Dallas, Richmond, and New York respectively By unanimous vote, the Committee adopted the following ranges for rates of growth in monetary aggregates for the period from the third quarter of 1976 to the third quarter of 1977: 10 per cent; M 1, 4-1/2 to 6-1/2 per cent; M 2 , 7-1/2 to and M 3 , 9 to 11-1/2 per cent. The meeting adjourned. Secretary

Federal Reserve (1976, November 7). FOMC Minutes. Fomc Minutes, Federal Reserve. https://whenthefedspeaks.com/doc/fomc_minutes_19761108

@misc{wtfs_fomc_minutes_19761108,
  author = {Federal Reserve},
  title = {FOMC Minutes},
  year = {1976},
  month = {Nov},
  howpublished = {Fomc Minutes, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/fomc_minutes_19761108},
  note = {Retrieved via When the Fed Speaks corpus}
}