Wash invites former Bank of England Governor Mervyn King to lead the Fed's communication working group

Odaily Odaily reports that Federal Reserve Chair Wash has invited former Bank of England Governor Mervyn King to serve as co-chair of the Fed's newly established communication working group. Wash has made reforming the Fed's communication methods a core part of his leadership, vowing to review how 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 as co-chair of the communication working group will provide a rare opportunity for outside scrutiny of the Fed's operations. King served as Governor of the Bank of England from 2003 to 2013, leading the institution through the 2008-2009 financial crisis. He confirmed through his office that he will serve as co-chair of the communication working group. (Jin Shi)