...operations. (5) The time, character, and volume of purchases and sales shall be governed with the view of accommodating commerce and business and with regard to their bearing upon the credit situation. (6) The conclusions and/or recommendations of the open market policy conference,...

...ascertained. "(c) The time, character, and volume of purchases and sales in the open market shall be governed with a view to accommodating commerce and business...upon the general credit situation of the country. Such purchases and sales shall include all paper described in section 14 of this act as eligible for...

...banks. Such open-market operations are conducted under regulations adopted by the Federal Reserve Board with a view to accommodating commerce and business...upon the general credit situation of the country. In connection with its supervision of Federal reserve banks the Federal Reserve Board is also authorized...

...in section 14 of the Federal Reserve Act as eligible for open-market operations, "shall be governed with a view to accommodating commerce and business,...upon the general credit situation of the country." The Board of Governors is authorized to change the reserve requirements of member banks "in order to...

...paper described in section 14 of this act as eligible for open-market operations shall be governed with a view to accommodating commerce and business...upon the general credit situation of the country. What was the purpose of taking that out ? Governor ECCLES. Because we do not think that should be the...

...Federal Reserve Board. The time, character, and volume of all open-market transactions must be " governed with a view to accommodating commerce and business...upon the general credit situation of the country." Any Reservo bank wlii.-h decides not to participate in the open-market operations recommended by the...

...paper described in section 14 of this act as eligible for open-market oixriitions shall be governed with a view to accommodating commerce and business and with regard to their hearing upon the general credit situation of the country. Governor ECCLES. Because we clo not think...

...requirement of law that the time, character, and volume of open-market transactions must be governed with a view to accommodating commerce and business and with regard to the general credit situation of the country. At present. — The Federal Open Market Committee consists...

...market operations of the Federal Reserve banks are conducted under regulations adopted by the Committee with a view to accommodating commerce and business...upon the general credit situation of the country; and no Federal Reserve bank may engage or decline to engage in open-market operations except in accordance...

...Committee to regulate and direct the open-market operations of the Federal Reserve banks, "with a view of accommodating commerce and business and with regard...upon the general credit situation of the country." (Federal Reserve Act, sec. 12 A.) The first three of these powers are required to be exercised through...