New York Times: Inside the Fed in 2006—A Coming Crisis, and Banter

“The transcripts of the 2006 [Federal Reserve] meetings, released after a standard five-year delay, clearly show some of the nation’s pre-eminent economic minds did not fully understand the basic mechanics of the economy that they were charged with shepherding.” It’s a significant understatement to say that they didn’t “full understand” the economy. Their discussions make […]