Central Banks
Mester Urges Fed to Explain Its Decisions, Policies More Clearly
- Scenarios, longer statements could help public understanding
- Outgoing Cleveland Fed chief reflects in Bloomberg interview
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The Federal Reserve has transformed how it communicates with the public in recent decades, and Loretta Mester has had a front-row seat. She’s attended more than 200 of the US central bank’s policy meetings, first as a staffer on the sidelines and, since 2014, as a policymaker at the table.
Now, on the eve of her retirement, she says the Fed can do better still.