For many years, Federal Reserve officials kept their policy decisions secret, claiming that surprises were mor

For many years, Federal Reserve officials kept their policy decisions secret, claiming that surprises were more effective than announcements and that even accurate information could mislead financial markets. What do you think of this argument?For many years, Federal Reserve officials kept their policy decisions secret, claiming that surprises were mor
Transparency in public life is bed partner to American Bureaucracy. So they were accused of what you say only recently may be around five years back. When I was in US things were more transparent way back in the 80's. During Clinton era they tried surprising I am told but I am not sure whether they continue with it right now. It is not actually secrets that they maintain, it must be decisions that are complicated for the people to waste time on rather than enjoy the fruits of their labor.


Former consultant to Fed Reserve USA.