Fed speak

21 June 2018 By Gina Chon Follow @GinaChon

Chairman Jay Powell says he’ll speak in plain English about what the U.S. central bank does. He also admits the Fed doesn’t have all the answers. Demystifying it should strengthen its credibility. That will be handy when the economy turns and politicians are pointing fingers.

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U.S. Federal Reserve Chairman Jerome Powell said he would speak in “plain English” to explain the central bank’s actions. In a press conference on June 13 after the Fed raised its target range for the federal-funds interest rate by a quarter percentage point, Powell said he hopes to foster a public conversation about what the Fed does. As part of that effort, he said he will hold a press conference after every Federal Open Market Committee, rather than every other one as at present, starting in January 2019.

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