Bank of America: The Federal Reserve is reducing the frequency of external communications, and the policy signal transmission mechanism is facing a reshaping.

Since the end of the June Federal Open Market Committee (FOMC) meeting, the frequency of public communication by Federal Reserve officials has significantly decreased. The latest monitoring data from the Bank of America strategy team shows that, including events scheduled for this weekend, Federal Reserve officials have only participated in 12 public speeches and interviews recently, compared to an average of about 23 times during the same period since 2022. This nearly halved data change has sparked close attention in the market to whether the communication style of the Federal Reserve is undergoing a major shift.