The Fed Just Held An Emergency Meeting To Discuss Capital Markets

from Zero Hedge

As we reported on Friday morning, in a surprise announcement the Fed revealed under its “Government in the Sunshine” protocol that it would hold a closed meeting under expedited procedures in which it would review the “advance and discount rates to be charged by Federal Reserve Banks.” The last time such a meeting took place was less than a month before the Fed hiked rates for the first time in years.

What took place during the meeting will remain a mystery, however what made it particularly interesting is that just hours later it was followed by another impromptu closed-door session, this time between president Obama and Janet Yellen.

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