The Fed: Policy and Transparency

The Fed: Policy and Transparency

For the first time in the Fed's 98-year history, the chairman holds a news conference. What the move toward greater transparency means for economists, analysts and average investors.

By tradition the Federal Reserve Board has always been a secretive body. Until yesterday. The chairman of the nation's central bank held a news conference - the first in the Fed's 98-year history. Chairman Ben Bernanke explained what the Fed has been doing to spur economic growth while keeping inflation in check. Some critics want the Fed to be less careful about inflation and more active in stimulating the economy to promote job creation. We'll talk about Bernanke's message in front of the cameras and what observers gleaned about the outlook for the U.S. economy and unemployment.

Guests

Martin Baily

senior fellow in economic studies at the Brookings Institution; former chair of the Council of Economic Advisers during the Clinton administration (1999-2001).

Binyamin Appelbaum

reporter, The New York Times.

Peter Morici

professor of International Business at the University of Maryland, former director of economics at the U.S. International Trade Commission.

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