BANKING & FINANCE - Nov. 3, 1992
From Times Staff and Wire Reports
Fed Policy-Makers Discuss Public Disclosure: House Banking Chairman Henry Gonzalez (D-Tex.) said the Federal Open Market Committee, the Federal Reserve’s policy-making body, will discuss whether to publish a full record of its meetings. “This is certainly a step in the right direction,” Gonzalez said. “For years, the secrecy surrounding the FOMC meetings has only served to give rise to a rumor-and-leak industry, which benefits certain market players over others.” Gonzalez said a Federal Reserve Bank president informed him that the idea would be discussed at the next FOMC meeting. A summary of the minutes of FOMC meetings is now released 60 days after each meeting.
