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

Of course it is an option. I think the reason that we preferred moving completely to an 84-day was that we thought it was much clearer. In other words, the users would know what they were doing and wouldn’t be faced with a multitude of choices in terms of keeping straight what week this is and what auction they are bidding for today. So we felt at the end of the day, because we had repeatedly been asked for a longer maturity, that we would be diluting it if we split it 50-50 between 28 days and 84 days. We also thought it would be more confusing in terms of if 84 days is good, why are you moving only halfway?

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