Conclusion

Abstract

No longer financial black boxes, modern central banks are talkative, even verbose. Of course, this trend is not unilateral— China stands as a marked exception—but the vast majority of these institutions are actively integrating this strategy, and, given recent evidence, it seems likely that the role of open communication in central banking will only continue to expand. For those who study central banks—especially the history of the Fed—this trend is only the latest, logical step in the development of these institutions. It is this sentiment—along with the potential of our analytical methods—that it has been the aim of this book to convey.