In reality, policymaking at most central banks is done by a committee. In the United States, nineteen people (twelve of whom get to vote at any given meeting) have seats at the FOMC table. The diversity of views and opinions likely to exist among the members of a large committee create further challenges for effective communication.
Available at http://www.treasury.gov.au/~/media/Treasury/Consultations%20and%20Reviews/Consultations/2015/Crowdsourced%20equity%20funding/Key%20Documents/PDF/Crowd-sourced-equity-funding.ashx  4  See Productivity Commission (2015), Workplace Relations Framework, Draft Report, Canberra. Available at http://www.pc.gov.au/inquiries/current/workplace-relations/draft/workplace-relations-draft.pdf  BIS central bankers’ speeches  5  I want to conclude by noting that I have not mentioned interest rates once today. That is not because they are unimportant!