Fed publishes FOMC transcripts from 'crisis year' 2008


The US Federal Reserve today released the hotly anticipated transcripts of the Federal Open Market Committee's meetings in 2008, a pivotal year in the global financial crisis that saw Lehman Brothers go bankrupt and insurer AIG rescued – among other exceptional events.

To recap: the FOMC held two conference call meetings in January 2008 – first on January 9, where no action was taken, then again on January 21, where it cut the Federal Funds rate target by 75 basis points, to 3.50%. Just nine

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