The newly released transcripts from the FOMC's 2006 meetings aren't all a laugh feast, as they...

|By:, SA News Editor

The newly released transcripts from the FOMC's 2006 meetings aren't all a laugh feast, as they show the Fed had "some inkling of the storm brewing in the housing market, but woefully underestimat[ing] the threat." Another take: "The problem was not a lack of information; it was a lack of comprehension, born in part of their deep confidence in economic forecasting models that turned out to be broken."