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

Here is the issue that has come up. The press and people in the market know that we had a Working Group on Communications and that we were going to discuss communication issues today. There was no secret as to what we would be talking about at this meeting. The press I suspect will be interested in knowing what came out of the discussion today. So Michelle would like us to consider what we want her to say about that. She has some thoughts of what she might say. Do you have other copies of this note that you have given me, Michelle?

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