"If The Fool persists in his Folly he will become wise." - William Blake
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Fed minutes too detailed, can hinder policy debate, Williams says
Minutes of the Federal Reserve's regular meetings have become so detailed and such a central focus for investors and the news media that the quality of policy debates may be suffering as a result, a top Fed official said on Thursday. The Fed publishes minutes of its policy-setting meetings three weeks after the fact. While the minutes do not specify what individual policymakers said, they do describe whether views were expressed by "some" or "a few" or "many" members. Traders often use those characterizations to try and determine where monetary policy may be heading. "If I don't say Q1 growth was weak, it might say in ... (full story)