The Globe and Mail reports in its Monday edition that some observers believe central
bankers should be seen more
often than heard.
The Globe's Kevin Carmichael writes that Bank of Canada Governor Stephen Poloz disapproves
of the tendency of United States Fed
officials to debate in public.
Purists say too much talk by
central bankers risks confusion
and volatility.
St. Louis
Fed president James Bullard disagrees.
He says, "You need to pull everybody in
and get good understanding of
what policy is going to be."
This week Mr.
Poloz will attempt to clarify how
the exchange rate factors into his
decision making, as the Fed's
policy committee gathers for a meeting in Washington.
Mr. Poloz will be under pressure
to erase lingering suspicions
that he favours a weaker currency.
In Washington, there could be
meaningful changes in the guidance
contained in the Fed's official
policy statement.
Fed officials spoke more than
170 times in 2013. That is
too much, says Santa
Fe Group consultant Stuart Weiner.
He says, "There is a disconnect at times
between influence and accountability."
GMP strategist Adrian
Miller says when Mr. Bullard "begins to lean
one way or another, the market
notices."
© 2024 Canjex Publishing Ltd. All rights reserved.