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Weather’s role in wildfires in Atlantic Canada | SaltWire #weather #climatechange #wildfireseason - Federal Reserve Vice-chair Phillip Jefferson said Monday that while it is important for a central bank to communicate clearly with the public, there are times when those communications can get muddled.
“When that interpretation is proven wrong down the road, it can create more volatility and uncertainty than if there had been no announcement,” Jefferson said.“The diversity of viewpoints among policymakers lends itself to stimulating debates and, ultimately, better policy,” Jefferson said, adding “but in such a situation, more communication could increase rather than reduce uncertainty about our policies.
The quarterly Fed projections -- the next set will come at the June Federal Open Market Committee meeting -- are not an official forecast but merely a summation of the views of policy makers. However, many in markets do see them as a house view, and Fed officials are routinely asked to comment on those forecasts.
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