Warsh 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 Warsh has invited former Bank of England Governor Mervyn King to serve as co-chair of the Fed's newly established communications working group. Warsh has made reforming the Fed's communication methods a core part of his leadership and has vowed to reexamine the way officials convey their monetary policy outlook to the public and investors. He has not committed to holding a press conference after every Fed interest rate decision and has previously encouraged policymakers to reduce the frequency of 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. Mervyn King served as the Governor of the Bank of England from 2003 to 2013 and led the institution through the 2008-2009 financial crisis. He confirmed through his office that he will serve as co-chair of the communications working group. (Jin Shi)