Lates News

Federal Reserve Chairman Jerome Powell has invited former Bank of England Governor Mervyn King to serve as co-chair of the Federal Reserve's new communications working group. Powell has made reforming the way the Federal Reserve communicates one of the core aspects of his leadership and has pledged to reexamine the way officials communicate monetary policy prospects to the public and investors. He has not committed to holding press conferences after every Federal Reserve interest rate decision and has previously encouraged policymakers to reduce the frequency of public speeches. Inviting Mervyn King to serve as co-chair of the communications working group will provide a rare opportunity for outsiders to scrutinize the operations of the Federal Reserve. Mervyn King served as the Governor of the Bank of England from 2003 to 2013 and led the bank through the financial crisis of 2008-2009. He has confirmed through his office that he will serve as co-chair of the communications working group.