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Home / FT Alphaville / From Larry Summers to a “global-communist-Presbyterian conspiracy:” Gems from the 2013 Fed transcripts

From Larry Summers to a “global-communist-Presbyterian conspiracy:” Gems from the 2013 Fed transcripts

Summary:
On Friday, the Federal Reserve published the transcripts of every single one of its monetary policy meetings in 2013. Here are some gems:1) The one about God, from MarchMR FISHER (Former Dallas Fed President): We can talk about this later, but I’m a little concerned reading through the memos when I see terms like “fiscal benefits of higher inflation.” If I may, I’m going to quote an unusual source — Zhou Xiaochuan, the governor of the Bank of China, from last week: “In the past, some of us thought it was no big deal if inflation was a little bit high — growth will be a little faster and then we can control inflation afterwards. But international experience and our own experience here show that this thinking might not be correct. It requires careful attention to maintain low inflation.”

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On Friday, the Federal Reserve published the

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