1987 Memos
January 9

Melcher Case Status (PDF)

January 14

Request for Humphrey-Hawkins Projections (PDF)

February 4

Supplementary Greenbook Information from FRB Boston and FRB New York (PDF)

February 5

Special Reports on the Effects of the Dollar Depreciation (PDF)

February 6

An Explicit Objective for Inflation (PDF)

March 11

Summary of Conference Call, February 23, 1987 (PDF)

  • Summary of Telephone Conference on February 23, 1987, discussing the meeting in Paris of the Ministers of Finance and Central Bank Governors of Canada, France, Germany, Japan, U.K., and U.S.
  • Paris Meeting Statement

March 25

Review of foreign exchange operations (PDF)

March 25

Supplementary Greenbook Information from FRB Boston and FRB New York (PDF)

April 3

FOMC Member and Officer Lists for 1987 (PDF)

April 7

Review of Major Committee Documents (PDF)

April 22

Notation Vote to Increase Intermeeting Reserves Limit (PDF)

May 8

Vote Correction (PDF)

May 11

Report of examination of the System Open Market Account (PDF)

May 13

Supplementary Greenbook Information from FRB Boston and FRB New York (PDF)

May 19

Draft Sentence on Housing Starts for Directive (PDF)

June 12

Appeal in Melcher Litigation (PDF)

June 17

Request for Humphrey-Hawkins Projections (PDF)

July 1

Attached Study of Borrowing and the Federal Funds Rate (PDF)

  • A Review of the Relation of the Funds Rate and Intended Discount Borrowing
  • Appendix: Policy Implementation in April and May 1987: Why Reserves and Borrowing Turned Out as they Did

July 1

Supplementary Greenbook Information from FRB Boston and FRB New York (PDF)

July 24

Capacity utilization in trade-sensitive industries (PDF)

August 12

Supplementary Greenbook Information from FRB Boston and FRB New York (PDF)

August 18

Draft Sentence on Housing for Directive (PDF)

August 28

1988 Meeting Schedule (PDF)

September 16

Tentative meeting schedule for 1988 (PDF)

September 16

Supplementary Greenbook Information from FRB Boston and FRB New York (PDF)

October 22

Notation Vote to Suspend Size Limits on Lending Operations (PDF)

October 26

Report from Districts on Apparent Effects of the Stock Market Drop on Spending (PDF)

  • Report from Districts on Apparent Effects of the Stock Market Drop on Spending

October 28

Supplementary Greenbook Information from FRB Boston and FRB New York (PDF)

October 29

Definition of the Borrowing Objective (PDF)

  • Treatment of Special Situation and Seasonal Borrowing in Desk Operations

October 30

Election of Mr. Patrikis as Deputy General Counsel (PDF)

November 17

Termination of Liberalized Terms for Lending Securities to Dealers (PDF)

December 9

An Evaluation of M1-A as an Indicator and Intermediate Target and Comparisons with M1 and M2 (PDF)

December 9

Supplementary Greenbook Information from FRB Boston and FRB New York (PDF)

December 11

Issues Related to Monetary Aggregate Targeting (PDF)

December 11

Strategies for Open Market Operations (PDF)

December 16

Proposed Housing Starts sentence for Directive (PDF)

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Last Update: July 28, 2023