EVENT

Whither Federal Reserve Communications

Frederic S. Mishkin, Federal Reserve Board of Governors

Peterson Institute for International Economics, Washington, DC

July 28, 2008

Summary

Frederic S. Mishkin, Federal Reserve Board of Governors, presented his views on the implementation of the Federal Reserve's communications strategy at the Peterson Institute for International Economics on July 28, 2008.

The Fed has recently undertaken a number of steps to improve the quality and quantity of its communications with the public. The Fed's ability to communicate its progress on maintaining price stability and optimum employment levels is crucial because public perception of the economic environment is a key factor in shaping the outcomes targeted by central banks.