OTHER NEWS - Dec. 30, 1992

Greenspan Rejects Call for Transcripts: Federal Reserve Chairman Alan Greenspan rejected suggestions that the central bank release more detailed records of meetings of its policy-making arm. In a letter to House Banking Committee Chairman Henry Gonzalez (D-Tex.), Greenspan argued that releasing word-for-word transcripts or videotapes of the meetings would inhibit essential policy discussions. The Fed now issues summaries of its Federal Open Market Committee meetings six to seven weeks after they are held. Gonzalez has criticized the Fed for its refusal to provide complete minutes of FOMC meetings.