• Repeats call for more systematic, rules based approach to policy making
  • Articulating reaction function can reduce policy uncertainty and clarify things for the public

Speaking in New York. Charles Plosser is on the voting board this year

The thing with central bank communication is that you can never set a finite rule for communicating policy. There’s just too many variables in data and other components that you can never please the market any which way you do it. Leave it well alone and let us have the volatility it creates.