Zeev's Turnips Patch-No Politics (ZEEV)

[Hobie1Kenobe]

Here's the full section that De Porre alluded to on excessive risk taking:

"Some participants believed that the prolonged period of policy accommodation had generated a significant degree of liquidity that might be contributing to signs of potentially excessive risk-taking in financial markets evidenced by quite narrow credit spreads, a pickup in initial public offerings, an upturn in mergers and acquisition activity, and anecdotal reports that speculative demands were becoming apparent in the markets for single-family homes and condominiums."

As always, the minutes don't identify just which committee members comprised "some," so we'll have to wait for further speeches to see if it was someone influential like Greenspan or someone obscure like Sandra Pianalto (president of the Cleveland Fed for those keeping score at home).

None mentioned