Now, I’d like to talk about the evolution of the post-FOMC statement and the minutes of the FOMC meetings. Both of these documents are obviously closely watched, but I’d like to highlight here how they developed into their current forms. Statements Anyone who reads the newspaper has probably read some report based on the statement the FOMC releases after each meeting.
3 Reporters, investors, and others track changes to the statements word-by-word. If I start with a little background on how the Committee’s focus on the statement has developed, I trust that you’ll come to see that the market’s focus on the statement is not entirely unfounded.