Fed Needs Policy Clarity to Preserve Independence, G-30 Report Says

The Federal Reserve needs to improve its execution of monetary policy and how it communicates with investors and the public if it is to protect its independence against ongoing political attacks, according to a think tank of former and current policymakers.

The report from the Group of 30 led by William Dudley, a former president of the New York Fed, addressed some proposals made by Fed chair nominee and fellow G-30 member Kevin Warsh, and made eight recommendations for what the Fed needs to do to shield itself from political attack.