Federal Reserve Bank of Dallas President Richard Fisher initially provided the only "No" vote on a motion before the Federal Open Market Committee at the height of the financial crisis—only to reverse his vote after an unrecorded lunch break, according to a heavily redactedtranscript of Fed documents released Monday afternoon.
The vote took place during the first day of a two-day meeting of the FOMC on December 15 and 16. The subject of the vote is not revealed by the minutes released by the Fed. A large passage of the discussion prior to the vote is redacted.
The next day, however, the Fed announced a target range for the federal funds rate of 0 to 0.25 percent.