Differences are a strength of Fed strategy: Kohn

Recent disparities in speeches by FOMC members on the economic outlook in the United States reflect the pace of change rather than any failure in the Fed's communication strategy, says Donald Kohn, the vice-chairman of the Federal Reserve board.

Speaking in New Orleans on Saturday, Kohn said: "Because the situation has been so fluid and so uncertain in its effects, the speeches of individual FOMC participants have given varied interpretations of the developments and their implications for policy

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