As any veteran market participant knows, the Federal Open Market Committee meeting outcome is announced only roughly around the scheduled time. Why? Unlike almost all the other stuff that comes out of the government’s economic divisions, the Federal Reserve statement is distributed using decidedly 20th century technology. First, it makes its way from the Fed to the Treasury Department press room via fax machine around 2 p.m. Then, a reporter makes copies for the entire room–on Wednesday that was a heavier than usual five pages multiplied by 80 copies, or 400 pages. And, of course, the copier froze. The reporter had ... (full story)