Federal Reserve releases transcripts of 2012 policy meetings
What was said at the FOMC meetings
The verbatim logs of FOMC meetings are released with a five-year lag. They're mostly interesting for historians but look for market watchers to comb through them and find some interesting nuggets throughout the day.
That year Bernanke was still the Chairman and Powell joined in May. it was the year of Operation Twist and QE3.
Other things that happened:
- The dot plot was reelased
- The Fed, in January, signaled it was likely to keep rates near zero for nearly 3 years
- At the Aug 1 meeting, the FOMC signaled QE3
Powell on August 1 is interesting: " I continue to see U.S. inflation, at 1.8 percent, as low and under control. I see us as running just below 2 percent, but I wouldn't characterize that as missing the mandate."