The December 2008 FOMC meeting was in the midst of the unfolding crisis.
- On Friday, the … release of a package of memos Fed staff prepared for officials in December 2008 ahead of that month’s policy meeting
- The memos examined on the costs and benefits of the policy options at the Fed’s disposal
- The memos provide an additional window onto the information they considered while making policy decisions in the midst of the crisis
There a bit of a summary at an (ungated) Wall Street Journal article, here, and it includes links to the full, 179 package of documents released. (If ya got nuthin goin on this weekend, or you are having trouble dropping off to sleep
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It sheds light on the processes at a central bank policy meeting.
