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Bernanke Briefings Could Cause Misunderstandings, Poole Says

Federal Reserve Chairman Ben S. Bernanke’s decision to hold quarterly news briefings could lead to misunderstandings regarding monetary policy, said William Poole, former president of the St. Louis Fed.

“The question is whether it will be constructive from a monetary policy perspective,” Poole said today in an interview on Bloomberg Radio’s “Hays Advantage” with Kathleen Hays. “I’m not convinced.”

The Fed announced last week that Bernanke will hold his first briefing following the Fed’s meeting on interest rates and the economy on April 27. The Fed typically issues printed statements following their meetings.

Regarding the outlook for the economy, Poole said, “It does look as though things are picking up.”

(In the U.S., hear Bloomberg Radio on satellite radio: Sirius Channel 130 and XM Channel 129. In New York City, tune to WBBR 1130 on the AM dial.)

To contact the reporters on this story: Vincent Del Giudice in Washington vdelgiudice@bloomberg.net; Kathleen Hays in New York Khays4@bloomberg.net.

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net

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