WASHINGTON — Federal Reserve officials are discussing whether to start a quarterly monetary policy report to provide a clearer guide to their economic outlook and the likely course for policy.
“We are talking a lot about it,” Philadelphia Federal Reserve Bank president Charles Plosser said in an interview on July 5. “The question is, can we put it together in a way that is coherent and makes sense and improves our communications?”
Plosser serves on a committee created by Fed Chairman Ben Bernanke to consider how to better explain its decisions and policies to the public. Bernanke, who is scheduled to deliver his semi-annual testimony to U.S. lawmakers next week, has established an explicit inflation target and has started giving press conferences to improve transparency.
