Wash has invited former Bank of England Governor Mervyn King to lead the Federal Reserve's communications working group

Odaily Planet Daily News Federal Reserve Chairman Wash has invited former Bank of England Governor Mervyn King to serve as co-chair of the newly established communications working group at the Federal Reserve. Making the reform of the Fed's communication methods a core part of his leadership, Wash has vowed to re-evaluate how officials convey the monetary policy outlook to the public and investors. He has not committed to holding press conferences after every FOMC meeting and has previously encouraged policymakers to reduce the frequency of their public speeches.

Inviting Mervyn King to serve as co-chair of the communications working group will provide a rare opportunity for external scrutiny of the Fed's operational methods. King served as Governor of the Bank of England from 2003 to 2013, leading the institution through the 2008-2009 financial crisis. Through his office, he confirmed that he would serve as co-chair of this communications working group. (Jin Shi)