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The Federal Reserve’s release of transcripts from its 2008 policy meetings on Friday provide new detail on policymakers’ thinking during this critical period. Here are three lessons the market can take away from these transcripts, which cover the Fed’s expansion of its policy tools as the credit crunch of 2007 grew into the Great Financial Crisis of 2008-2009.
–– Bloomberg Economist Josh Wright on Three Lessons from the 2008 Transcripts
–– Selected Excerpts From 2008 FOMC Meeting Transcripts
–– The Crisis, Visualized
–– Mentions of Laughter, Recession, Depression