The Federal Reserve today released transcripts of its meetings in 2008, back when the financial crisis was unfolding. The documents show Fed policymakers struggling to understand and respond to failing Wall Street banks and the global financial system in turmoil. NPR's John Ydstie has been reading through the transcripts and joins us now. Hey there, John.
JOHN YDSTIE, BYLINE: Hi, Audie.
CORNISH: So we've had these minutes, at least, right, from most of these meetings for years. What do we learn from the transcripts?