Donald L Kohn: Recent and prospective developments in monetary policy transparency and communications – a global perspective Remarks by Mr Donald L Kohn, Vice Chairman of the Board of Governors of the US Federal Reserve System, at the National Association for Business Economics Session, Allied Social Science Associations Annual Meeting, New Orleans, Louisiana, 5 January 2008.
Because the global capital markets have become so important in the credit intermediation process, the economic well-being of us all depends on the orderly flow of funds in these markets. The flow of these funds, in turn, increasingly relies on price signals generated by trading activity that takes place daily in these markets.