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

I would prefer not to be involved in term funding generally without greater study than we have done so far. But I am confident, with the additional measures that you’re talking about and the conversations, that we would end up being able to do it appropriately. I would prefer the 28-day and 84-day separation if that’s operationally possible, but I’m not sure if any potential adverse signals would somehow be conveyed that way. Frankly, I just don’t understand it well enough, and this is being done very quickly. Thank you.

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