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JAN 18, 2013 - San Francisco Chronicle

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Transcripts show Fed underestimated crisis in 2007

Transcripts show Fed underestimated crisis in 2007 Associated Press Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Updated 2:49 pm, Friday, January 18, 2013 WASHINGTON (AP) — Federal Reserve officials in 2007 badly underestimated the scope of the approaching financial crisis and how it would tip the U.S. economy into the deepest recession since the Great Depression, transcripts of the Fed's policy meetings that year show. Beginning in September 2007, the Fed cut interest ... Read More

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