Moreover, it would require policymakers to explain why they choose to deviate from the benchmarks and the guidelines they provide. An example As I discussed, communication is an important aspect of monetary policy. I have long been an advocate of the Fed producing a periodic monetary policy report similar to other central banks.
Those of you who have been here on a previous occasion may have noticed that the artistic features in this building are all related to Johann Wolfgang von Goethe, the famous poet and a son of this city. When the building was planned, various artists were explicitly commissioned to depict scenes from his drama “Faust Part Two".