Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.

I don’t know how quickly we could pull it back down. Look. I don’t think that this is going to happen under almost any conceivable circumstance, but if it were to happen, we would basically add reserves to protest what we’re seeing. Time would pass. We’d have another FOMC meeting, and we would make an adjustment to the framework. But I think this is an extremely remote possibility.

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