Monday, January 21, 2013

Inside the late 2007 FOMC meetings

The New York Times published an article summarizing the FOMC meeting transcripts from fall 2007 that were recently released after the standard 5-year delay. Most notable to me were remarks attributed to Bernanke in the September meeting in which he argues for leaving the federal funds rate unchanged so as to avoid any appearance of a bailout of financial market participants.