Submitted by Bruce Krasting on 12/05/2011 17:32 -0500
Ben Bernanke
Federal Reserve
Japan
Wall Street Journal
I got a laugh at this article by Jon Hilsenrath at the Wall Street Journal. (Link)
This is another in a string of articles by Jon where Bernanke is clearly providing a portion of the content. The thrust of this one is that the Fed is going to change its communication policy in the upcoming Fed meeting. From the article:
Federal Reserve officials are close to completing an overhaul of how they signal their policy plans to the public.
The Fed has said publicly that they are monitoring the blogs in an effort to get a handle on what is being said about them outside of the MSM. I assume they will be reading this. I hope those “readers” pass this note along to Bernanke. Possibly it will help the Fed heads steer their new communications policy to a better place.
My suggestion to the Fed is that they stop leaking what they are going to do at the next meeting to the WSJ. This is the worst form of communication policy. In my opinion it makes the Fed look stupid. It makes the Journal look like a beard.
When Hilsenrath quotes ,”Unnamed sources close to the matter” and the next words are clearly coming from the Chairman, there are thousands of readers who look at it and say , “Plant”.
Policy steps by the Fed have been consistently telegraphed in advance for the past three years. In Japan this is called, “Official Guidance”. Very few people (outside of finance) understand that the Fed is
http://www.zerohedge.com/contributed/controlled-leaking?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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