Federal Reserve Chairwoman Janet Yellen on Tuesday admitted that the range of different voices on the central bank’s policy-setting committee can be confusing to the public, calling it one of the institution’s biggest challenges.
Speaking in a panel discussion in Frankfurt alongside European Central Bank President Mario Draghi, Bank of Japan Gov. Haruhiko Kuroda and Bank of England Gov. Mark Carney, Yellen said having 19 members on the Federal Open Market Committee creates healthy debates but also that it creates confusion when they offer differing views in speeches and interviews.
“It is confusing to the public with some many voices,” said Yellen, whose term as chairwoman expires in February. President Donald Trump announced earlier this month he would nominate Fed Gov. Jerome Powell to succeed her.
Source : Market Watch