Federal Reserve Stays Out In August-October Period
REGULATIONS
U.S. monetary authorities stayed out of the currency markets during the three months ended October 31, the Federal Reserve Bank of New York reported late last week. Despite the dollar's continued decline and the Soviet putsch, monetary officials did not find any reason to intervene anytime during that period.
In fact, the Federal Reserve didn't do much of anything. Though several off market transactions settled during the period, no new transactions were initiated. As a result, the Fed and the
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