Svmuu News Federal Reserve Chairman Warsh has invited former Bank of England Governor Mervyn King to serve as co-chair of the newly established communications working group at Federal Reserve. Warsh has made reforming Federal Reserve’s communication methods a central focus of his leadership and has pledged to reexamine how officials convey the monetary policy outlook to the public and investors.He has not committed to holding press conferences after every Federal Reserve interest rate decision and has in the past encouraged policymakers to reduce the frequency of their public speeches.
The invitation to Mervyn King to serve as co-chair of the communications working group will provide a rare opportunity for the public to examine the inner workings of Federal Reserve.Mervyn King served as Governor of the Bank of England from 2003 to 2013 and led the bank through the 2008–2009 financial crisis. His office confirmed that he will serve as co-chair of the communication working group. (Jin Shi)