Feb 21 The U.S. Federal Reserve on Friday
unveiled some of its internal conversations from the darkest
days of the financial crisis, releasing to the public
transcripts of policy-setting meetings for the year 2008.
The U.S. central bank under then Chairman Ben Bernanke was
caught off guard by the severity of the crisis triggered by the
mortgage market, but quickly took a series of unprecedented
steps to reinforce the crumbling financial system and limit
damage to the U.S. and world economies.
The Fed, which is still dealing with fallout from the crisis
and resulting 2007-2009 recession, typically releases
transcripts of its Federal Open Market Committee (FOMC) after a
five year lag.