Sec. 601. Findings
85 words·~1 min read·
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The Congress finds the following: In conducting open market operations, the Federal Open Market Committee should not allocate credit among households, firms, and sectors of the United States economy. To assure the credit allocation neutrality of open market operations among households, firms, and sectors of the United States economy, the Federal Open Market Committee should conduct open market operations in United States Government securities, and repurchase and reverse repurchase agreements that have a term of 1 year or less, except in unusual and exigent circumstances.