Is This “The New Fed”?

05 Apr

First the release of the garbage The Fed bought under Maiden Lane I-III, now this:

Advance Notice of a Meeting
under Expedited Procedures 
It is anticipated that a closed meeting of the Board of Governors of the Federal Reserve System at 11:30 a.m. on Monday, April 5, 2010, will be held under expedited procedures, as set forth in section 26lb.7 of the Board's Rules Regarding Public Observation of Meetings, at the Board's offices at 20th Street and C Streets, N.W., Washington, D.C. The following items of official Board business are tentatively scheduled to be considered at that meeting.

Meeting date: April 5, 2010

To Be Discussed: Review and determination by the Board of Governors of the advance and discount rates to be charged by Federal Reserve Banks.

A final announcement of matters considered under expedited procedures will be available in the Board's Freedom of Information and Public Affairs Offices and on the Board's Web site following the closed meeting.

So what's this about?  We never got this sort of notice before!

Assuming this isn't some sort of April Fool's joke by Bernanke and pals this is a major sea change.

The obvious question I have is this: Has someone, or a group of someone's on Capitol Hill, made clear to our dear Fed Chairman that he has reached the end of his rope, and that if the BS does not stop his job will?


Leave a Reply