A survey conducted by the NY Federal Reserve, Wall Street Journal with the news:
- survey conducted July 17-22
- found that 15 of 24 banks rated Fed communications as "ineffective" or close to that level
- compared with eight who rated the communications effectiveness at the midpoint between ineffective and effective
- "Several dealers indicated that they found communication confusing, and several characterized communication from various Fed officials as inconsistent," the New York Fed report said.
Yep, this is an issue for financial markets, throw in policy by tweet and it worse.
WSH piece (gated)
