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

I guess I’ll approve, but with reluctance. I think this is a very slippery slope. I’m worried about other central banks ganging up on us as a group, saying that they have to have this. I would prefer that even these large countries use some combination of the IMF facility plus their own reserves to meet these needs. I think that would be a better outcome and better for us in that regard. So that’s a very reluctant “yea” vote. I’d also insist that any further expansion come back before this Committee.

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