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Fed releases transcripts of its 2007 meetings

The Federal Reserve is releasing transcripts of the eight meetings its policy committee held in 2007. The meetings occurred as the country was on the brink of the worst financial crisis since the Great Depression.

By Associated Press | Updated on January 18, 2013

WASHINGTON (AP) — The Federal Reserve is releasing transcripts of the eight meetings its policy committee held in 2007. The meetings occurred as the country was on the brink of the worst financial crisis since the Great Depression.

Actions the Fed took in 2007 showed that it gradually recognized the scope of the approaching crisis. That year, the Fed began to cut interest rates and took extraordinary steps to ease credit and shore up confidence in the banking system.

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