Add to ORKGThe Shadow Open Market Committee met on Sunday, September 29, 1991 from 2:00 PM to 6:00 PM in Washington, D.C. Washington, September 3G-The Shadow Open Market Committee today called on the Federal Reserve System to avoid further easing by holding the current growth rate of the monetary base to a range of 5 percent to 6 percent. The SOMC said that the monetary base (bank reserves and currency) "remains the most reliable indicator of the thrust of current monetary policy.