Business

Photocopier glitch delays Fed announcement

Michael Watson Contributor

The Federal Open Market Committee announcement that included a $400 billion program to change the structure of the central bank’s bond holding was delayed by eight minutes this afternoon, Fox Business and several other outlets reported.

A photocopier glitch in the Treasury Department press room prevented reporters from receiving the announcement at the scheduled time of 2:15 p.m. The report was released instead at 2:23 p.m.

Unlike other government agencies that release statements and data electronically, the Federal Reserve releases its announcements by fax for immediate release.