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

No. Today is the end of the old regime. We have hit zero. We can’t go further. Going forward, this is what we’re going to do. I think that’s clearer. Again, I’m just concerned about not saying what we’re doing with the funds rate. Are we going to let it do whatever it wants to do from today? I think that’s just going to create volatility. Again, I’m sorry for those who are in disagreement.

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