Using “expedited procedures” the Federal Reserve Board of Governors held an impromptu (read emergency) meeting yesterday to discuss monetary policy and interest rates.

Afterwards Chairwoman Yellen visited the White House for another irregular meeting with the President.

Both of these meetings were closed door and both went largely unreported by the mainstream media.

Unfortunately we don’t know exactly what was said in those meetings, but we do know it is highly unusual for the Fed to invoke “expedited procedures.”