Fed to offer more insight into decision making

The Federal Reserve is to give the public more insight into how the rate-setting Federal Open Market Committee (FOMC) decides on monetary policy.

The central bank said on Wednesday it will increase the frequency and expand the content of its economic projections in a bid to increase transparency.

Ben Bernanke, the chairman of the Federal Reserve, said: "The changes will provide a more-timely insight into the Committee's outlook, will help households and businesses better understand and antici