Editorial Board
Fed Officials Need to Stop Speaking Out of Turn
The central bank’s policymakers have immense power. They can’t be sharing insights with private audiences.
Come on, man.
Photographer: Luke MacGregor/Bloomberg
The Federal Reserve is among the world’s most powerful institutions. When its policymakers speak, they have immense potential to move markets, particularly at a time when the central bank’s pitched battle against inflation is arguably the most important story in global economics. It should be obvious, then, that Fed officials need to carefully weigh when and where they speak, and to err on the side of discretion.
Apparently it’s not obvious enough.