CHAIRMAN GREENSPAN
The next item on the agenda is the selection of a Federal Reserve Bank to execute transactions for the System Open Market Account .
CHAIRMAN GREENSPAN
-LSB- Laughter -RSB- In that event , not wishing to go against the odds , I will entertain any motion which is restricted to nominating the Federal Reserve Bank of New York ! ''
CHAIRMAN GREENSPAN
My notes indicate to me , and I quote , `` New York is the odds-on favorite . ''
CHAIRMAN GREENSPAN
11 , CHAIRMAN GREENSPAN. , '' Without objection , that is approved .
MR. FERGUSON
12 , MR. FERGUSON. , '' Well , consistent with the odds and tradition , I will nominate the Federal Reserve Bank of New York . ''