I would like to discuss the importance of transparency for central banks--in particular, why they should communicate clearly with markets and the public. I have been closely involved at the Federal Reserve with this interesting topic, and I believe it to be especially relevant for many central banks around the world.
Of course, the usual disclaimer applies to my remarks: I will express my own views, and you should not interpret them as the position of the Federal Open Market Committee or of the Board of Governors.