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Transcripts show Fed underestimated crisis in 2007

January 19, 2013
By CHRISTOPHER S. RUGABER , THE ASSOCIATED PRESS

WASHINGTON - Federal Reserve officials in 2007 badly underestimated the scope of the approaching financial crisis and how it would tip the U.S. economy into the deepest recession since the Great Depression, transcripts of the Fed's policy meetings that year show.

 
 
 

 

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