The Federal Reserve has agreed to make the transcripts of Federal Open Market Committee meetings held between 2007 and 2010 open to the public, pursuant to a Freedom of Information Act request.The minutes, which have been heavily redacted, give some insight into what the Federal Reserve was doing when the country headed into its deepest financial crisis since the Great Depression.
Of the more than 7,000 pages the Federal Reserve says it reviewed before the release, it will make 513 available.
The Federal Reserve typically waits some five or more years before releasing full transcripts of the Federal Open Market Committee meetings, which offer a greater view into the Fed’s thought process than the posting of monthly minutes.
In January, the Federal Reserve released full transcripts from its 2006 meetings.
An analysis by Business Insider found surprisingly dismissive conversation at the nation’s central bank, including jokes comparing the housing market to Brad Pitt’s newly adopted child.