Fed's Kohn on central bank communication

In a speech on 'Central bank communication' given on 9 January, Donald Kohn of the Federal Reserve said the Federal Reserve is moving toward giving the public a better understanding of the central bank's behaviour, but these steps are likely to take place gradually.

"I anticipate further steps toward explaining our views, but at a pace that is likely to be measured," Kohn said in the speech to the American Economic Association on Sunday.

Kohn said financial markets should view the minutes as a

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