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

I just want to say that this exercise is already a success in terms of the kinds of questions it’s making us confront. So I appreciate that everyone is taking this very seriously. We had very good, detailed responses from everyone.

Let me just close the meeting with a few quick announcements. First, the next meeting is two days—June 27 and June 28. You will receive additional information about the nonpolicy part of the discussion. Second, as usual, on the night of June 27, we’ll have a dinner at the British Embassy. A number of us have been concerned about the late night, and so I had a discussion with the ambassador, and we’ve agreed that there will be no program or speaker. The evening will be strictly social, and therefore maybe we’ll get out a little earlier and have more time to study the Greenbook. [Laughter] Third, we circulated a set of proposed dates for next year’s meetings. If you haven’t responded to Vince or Debbie, please do so. There is lunch available in the Anteroom, and the meeting is adjourned. Thank you.

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