"Conclusion:
The communications strategy of the Federal Reserve is a work in progress. I believe that the changes announced by the FOMC today are an important advance: The changes will provide a more-timely insight into the Committee's outlook, will help households and businesses better understand and anticipate how our policy decisions respond to incoming information, and will enhance our accountability for the decisions we make. But the changes are also evolutionary, in that they build on long-established practices; in that respect, they represent just one more step on the road toward greater transparency at the Federal Reserve. The Committee will continue to look for ways to improve the accountability and public understanding of U.S. monetary policy making."
