Fed to Release Edited Meeting Notes Next Year: Rep. Gonzalez Terms Plan 'Unacceptable'
The Federal Reserve will release edited transcripts of policy-making meetings held between 1976 and 1988 beginning next year. Fed Chairman Alan Greenspan said yesterday.</br></br>House Banking Committee Chairman Henry B. Gonzalez (D-Tex.), who is seeking immediate release of all transcripts, called the FedÛªs plan "wholly inadequate." said the FedÛªs policy-making group, the Federal Open Market Committee, had rejected GonzalezÛªs request for immediate release of all the transcripts.</br></br>Fed officials do ÛÏnot believe that immediate release of all past raw transcripts is necessary or in the public interest," Greenspan wrote.</br></br>Fed officials said they would release transcripts of meetings five years after the meetings had taken place.</br></br>ÛÏwould do serious damage to the process by which we ... arrive at what we judge to be the best possible monetary policy for this nation," Greenspan wrote.