Decoding the Fed's Muddled Message
When listening to Fed speakers it is easy to get the sense their communication strategy is hopelessly inadequate. The truth is all FOMC members are simply not on the same policy page. Even this lack of consensus, expression of conflicting views is to be expected. However, it is critical to remember that all FOMC members’ views are not of equal import. Quite simply, some voices matter more than others.
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