- The Fed Just Held An Emergency Meeting To Discuss Capital Markets
by Tyler Durden, www.zerohedge.com
As we reported on Friday morning, in a surprise announcement the Fed revealed under its “Government in the Sunshine” protocol that it would hold a closed meeting under expedited procedures in which it would review the “advance and discount rates to be charged by Federal Reserve Banks.” The last time such a meeting took place was less than a month before the Fed hiked rates for the first time in years.
What took place during the meeting will remain a mystery, however what made it particularly interesting is that just hours later it was followed by another impromptu closed-door session, this time between president Obama and Janet Yellen.
We do know, however, that it is a very busy week for unexpected, emergency meeting for the Fed, because according to the Fed’s board meeting website, today at 3pm the Fed held yet another previously unscheduled“meeting under expedited procedures”, only instead of discussing rates this time, the Fed talked about institutions, infrastructure and financial markets.