In an essay in the 2011 annual report, San Francisco Fed President and CEO John C. Williams describes the Fed’s move out of the shadows toward greater openness and transparency, the necessity for this change, and where there is more that can be done.
Read the essay, Opening the Temple (pdf, 1.15 mb)
Download the full annual report (pdf, 1.90 mb)
Download the San Francisco Fed’s financial statements (pdf, 1.4 mb)
Learn more about Fed transparency
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The buck stops here: the Fed is accountable to the public and Congress