Board of Governors of the Federal Reserve System

Authorized for public release by the FOMC Secretariat on 9/13/2011 1 of 39 Strictly Confidential (FR) Class II FOMC BOARD OF GOVERNORS OF THE

responses to these shocks. Third, we consider an extension of the sign...responses to an uncertainty shock of interest. These response restrictions

response if the action were taken. Following questions, we begin the monetary...response to the unprecedented actions we have taken recently. As I get

response to a question, Mr. Larkin stated that the $91 million upward ...crisis comes at a tim

A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve System in Washington

Responses to the core questions in the September survey offered a few ...responses to the core questions revealed the following: • About one-sixth

response reflects transaction activity of accounts at the participating

responses to FOIA requests. The narrative below provides further descriptions...response period, a denial or partial denial is suggested by subject matter

Prefatory Note The attached document represents the most complete and accurate version available based on original files from the FOMC Secretariat

MEMORANDUM OF DISCUSSION A meeting of the Federal Open Market Committee was held in the offices of the Board of Governors of the Federal Reserve