The current structure of the FOMC was established in 1935 and for decades transcripts of the FOMC meetings were published with a lag of 5 years. In 1995 the FOMC began to publish the minutes of a meeting after the subsequent meeting which was usually 8-9 weeks later. This change was prompted by Congressional pressure for the Federal Reserve to become more transparent. In 2004 the FOMC adopted the current practice of publishing FOMC meeting minutes 3 weeks after a meeting. The FOMC started to publish the quarterly Dot Plot in 2012 as a tool to boost the FOMC’s use of Forward Guidance. The...
