Danielle DiMartino Booth, Columnist

Fed’s Powell Orchestrates a Masterful Move

The central bank chairman’s “plain-English” approach to monetary policy is working.

June 14, 2018 at 1:45 PM UTC

Danielle DiMartino Booth, a former adviser to the president of the Dallas Fed, is the author of "Fed Up: An Insider's Take on Why the Federal Reserve Is Bad for America," and founder of Quill Intelligence.

Jerome Powell brings “plain-English” to the Fed
Photographer: ANDREW CABALLERO-REYNOLDS/AFP

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Federal Reserve Chairman Jerome Powell has taken the first steps in remaking the central bank in his "plain-English" image, which can only be a good thing for financial markets.

Earlier this week, news leaked that the central bank was considering holding a press conference following each Federal Open Market Committee meeting instead of after every other one like it does now. The reports set off a mini-storm. Speculation rose the Fed would implement this new policy immediately, which could mean the central bank was considering accelerating the pace of interest-rate increases as soon as August. After all, investors had become accustomed to the Fed only making a major policy move at meetings followed by a press conference. Now, every meeting would be "live."