The importance of clear and impactful communication is hopefully not wasted on the new Federal Reserve Bank Chairwoman, Janet Yellen. Here are two quotes from this Sunday’s New York Times article “How the Fed learned to Talk” by Douglas R. Holmes:
“Ms. Yellen is likely to continue the policies of Mr. Bernanke, who helped make Fed policy much more transparent. Like him, she will have to communicate to multiple audiences — members of Congress, the financial markets and consumers — who have come to expect clear and precise messages from the central bank.”
And more evidence that the most powerful banking position with the most challenges, requires excellent communication skills-
“The incremental experiments with language and explanation pursued by the Fed over the last decade are setting a new relationship with the public, one in which ordinary people’s predicaments are recognized and have come to serve as a fulcrum of policy. The day’s in which the leader of the Fed could mumble incoherently, obscuring his true intentions behind a cloud of verbiage, are gone.”
Here’s hoping she follows in Ben Bernanke’s footsteps!
Here is a link to the new York Times article in full: