Press Room



January 18, 2013

2007 Comments on the Term Auction Facility

Transcripts of the 2007 meetings of the Federal Open Market Committee were recently released. During a December 6, 2007 conference call, the Committee discussed a proposal to establish a Term Auction Facility. In his comments on the call, Richmond Fed President Jeffrey Lacker made reference to a letter that he had sent to Reserve Bank presidents and members of the Board of Governors concerning the economic rationale for the facility. His comments can be found on pages 28-29 of the transcript of the December 6th conference call.

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