Silliness At The Fed: 'Love Us, Love Our Transparency'

Fed to Make Benchmark Rate Forecasts ... Federal Reserve officials will for the first time make public their own forecasts for the federal funds rate at their Jan. 24-25 meeting, according to minutes from last month's Federal Open Market Committee released today. FOMC "participants decided to incorporate information about their projections of appropriate monetary policy" into their Summary of Economic Projections starting with their next meeting, the minutes said. The move marks another stride toward greater transparency under the chairmanship of Ben S. Bernanke. – Bloomberg

Dominant Social Theme: If you understand us better, you'll start to like us!

Free-Market Analysis: The Federal Reserve is at it again. This increasingly despised institution's leaders seem to believe that by making the Fed's unconstitutional behavior more "transparent" – clearer – they will somehow make it more palatable as well.

This article by Bloomberg is a "doozie" with an important dominant social theme on display. The idea is fear-based, of course. The underlying, unspoken statement is that the world NEEDS central bankers and that, in this case, people are upset with the Fed simply because they don't understand the deliberations of its wise men.

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