First of all, informing the public on our thinking about the transmission of monetary policy and a possible path of for interest rates can help individuals and businesses make more informed decisions.4 There are times when the Bank will know more about the economic situation and outlook than does the public or financial market participants.
Third, we are working with high schools and universities to inspire students' interest in economics and finance. We are also working to provide them with the tools they need to enter these fields. This has included partnerships with local high schools to teach economics, and with a local Historically Black University, Howard University, to teach and mentor students in economics and statistical analysis.