CrossingWallStreet combs through the Fed's 2000 transcripts (which were released yesterday) looking for the one element least likely to be found in Fed transcripts: jokes. A sampling:
CHAIRMAN GREENSPAN. Governor Ferguson.
MR. FERGUSON. I support both halves of your recommendation. And since we are confessing, I will confess that my heart is pure.
MR. GRAMLICH. You're obviously not a Catholic.
MR. FERGUSON. That is also true. I do think a 25 basis point move is appropriate today. As I said earlier, a 50 basis point move may be appropriate later.
VICE CHAIRMAN MCDONOUGH. You know what happens to those whose hearts are pure? Their strength is as the strength of ten.
MR. FERGUSON. He has to turn his collar around the other way.