But all along, there have been other voices urging caution and asking, in effect, “How much transparency is too much?” As Don Kohn noted in 2005 remarks, “more is not necessarily always better” when it comes to Fed communication.
Overseas Filipino Remittances have started to recover in recent months. We expect OF remittances to expand by 4 percent next year from a contraction of 2 percent this year. Year to date, OF remittances have contracted by 2.4 percent. The Philippine peso has been an outperformer this year, appreciating 4.7% against the USD, year-to-date, to its highest level since late-2016.