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

I’d just like to just take a moment to react. I’m not sure whom you heard saying that the result was primarily a result of this Committee’s actions or the Chairman’s actions or anyone else’s actions. If those were words you were putting in my mouth, that was not what I said, President Geithner. I do think I have been supportive of almost all the actions in terms of liquidity facilities; I supported the actions. I also was supportive of the Lehman Brothers decision. But I think it’s a far cry from saying that uncertainty about policies contributes to uncertainty—which you agreed to—it’s a far cry from that to saying we lay the blame at the feet of this Committee or the Chairman. So I don’t know what straw man you were setting up, but it certainly didn’t apply to this member of the Committee. Thank you, Mr. Chairman.

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