For anybody who cares about how the country ended up in this precarious economic state, a very big day is coming soon, as information that has been under lock and key for the past five years will be shared with the world.
The Federal Reserve keeps transcripts of its meetings to set monetary policy, and releases them with a five year delay. It does not announce in advance when they will be released, but if the past is a guide, any day now we will be getting full transcripts of the 2007 meetings of the Federal Open Market Committee. Transcripts of all eight regularly scheduled meetings, plus three special emergency sessions to respond to the earliest ripples of the financial crisis, will be posted to the Federal Reserve’s Web site. (The FOMC had a big year in 2007! (Federal Reserve photo)