TechFlow news, July 1, Federal Reserve Chair Wash has invited former Bank of England Governor Mervyn King (Mervyn King) to serve as co-chair of the Fed's newly established Communication Working Group.
Wash has made reforming the Federal Reserve's communication methods one of the core components of his leadership, and vowed to re-examine the way officials convey monetary policy outlooks to the public and investors. He did not commit to holding press conferences after every Federal Reserve interest rate decision, and has previously encouraged policymakers to reduce the frequency of public speeches. Inviting Mervyn King to serve as co-chair of the Communication Working Group will provide a rare opportunity for the outside world to examine the Fed's operations.
Mervyn King served as Governor of the Bank of England between 2003 and 2013, and led the bank through the 2008-2009 financial crisis. He confirmed through his office that he will serve as co-chair of the Communication Working Group. (Jin10)
