His concerns are three-fold: first, the dominance of the voice of central banks in financial markets has resulted in price movements becoming a reflection of responses to their statements and action, rather than to changing economic and financial realities.
Second, central bank communications dominance could “crowd out” private sources of information or analysis, depriving the monetary authorities of an independent view of trends that sound policy-making would find helpful. And third, central banks risk losing credibility, when overcommitment to a specified path of action turns out to be a misleading assurance.