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

There is a kind of embarrassing situation that this is, in fact, a Board decision. What I would like to do is ask President Geithner and President Plosser to make a couple of final comments, and then I would like to turn to Board members. Governor Kroszner, I am going to give you warning. In that you are the head of Supervisory and Regulatory Affairs, I would like to know what your view is. In particular, can you offer any kinds of steps, assurances, or anything that might persuade our colleagues particularly on the credit issues with respect to the three-month TAF? If not, we would like to know that. But let me first turn to President Geithner. President Geithner.

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