You might think these are routine, vacuous statements devoid of any content. Can be incredibly effective in restoring calm. Dilemma in communication – how much do we communicate? •  Two views about it. •  First view: If you have something negative, don’t say it because it can have self-reinforcing negative impact.
•  Mothers across cultures and across time: “If you don’t have anything nice to say, don’t say it.”  •  Alternative view: “Say it as it is. You must present the true picture.” –  Example: Bernanke: Results of banking stress tests. –  If the central bank has credibility, communication can be effective. Our own experience supports this view.