This expedited timing enabled market participants to gain insight into the Committee’s previous decision as well as participants’ views on important issues before the  4  6  For minutes and transcripts of the FOMC meetings, see www.federalreserve.gov/monetarypolicy/fomc.htm. BIS Review 136/2010  next FOMC meeting. 5 The minutes are not just a longer, more detailed version of the statement.
An enormous amount of effort goes into making sure the minutes accurately reflect the discussion that took place at the meeting so that the public can see the full range of ideas and assessments considered by the Committee in reaching its decisions.