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

Yes. It’s May, which means that it’s time to take up the renewal of those swaps. They expire in mid-December; but because of the six-month notice that would have to be given if the Committee chose not to renew them, this is the proper meeting to vote on renewal. I sent out a short memo on this last week, and my recommendation is that the Committee renew the NAFA swap lines with Mexico and Canada.

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