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News Link • Federal Reserve

Fed’s image tarnished by newly released documents

• Washington Post
On Thursday, the Fed released transcripts of its meetings in 2006, offering a new window into what was on the minds of some of the nation’s top economic and financial thinkers just ahead of the financial crisis and subsequent great recession. The transcripts, which are customarily released after five years, show that Fed leaders, armed with the best economic data available, had little idea of what was looming less than two years off.

2 Comments in Response to

Comment by Roy Horton
Entered on:

What was on their minds ?

seems pretty obvious...........RAPE PILLAGE AND PLUNDERING OF THE WORLD !

Comment by Powell Gammill
Entered on:

http://www.nytimes.com/2012/01/13/business/transcripts-show-an-unfazed-fed-in-2006.html

The officials laughed about the cars that [home] builders were offering as signing bonuses, and about efforts to make empty homes look occupied. They joked about one builder who said that inventory was “rising through the roof.”

But the officials gave little credence to the possibility that the faltering housing market would weigh on the broader economy,

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