For more than two decades, transcripts of the US Federal Reserve’s Open Market Committee meetings have been made available to the public. But has the move to greater transparency about monetary policymaking hurt committee deliberations? In new research which examines committee meeting transcripts from 1978 to 2007, Joseph Gardner and John T. Woolley find that leadership – not transparency […]
With its ability to influence interest rates globally, the Federal Open Market Committee (FOMC) of the US Federal Reserve is arguably one of the most important decision making bodies on the planet. But how does it come to its decisions? In new research which analyses transcripts of FOMC deliberations over nearly 30 years, Joseph Gardner and John T. Woolley […]
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