Do Fed officials talk too much about plans for interest rate moves?

Federal Reserve policy makers have been working hard to persuade Wall Street observers and financial markets that, contrary to market expectations a few weeks ago , the Fed may boost short-term interest rates in June or July . Journalistic surveys of Fed watchers and trading in futures markets suggests these efforts are succeeding. A friend asked me the other day: Should the Fed telegraph its moves? Who benefits when it does–besides traders who profit from second-to-second moves in the bond market and the journalists and Wall Street analysts who enjoy boasting when they accurately......(read more)

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