Communication and transparency As the conduct of monetary policy has changed over time, it has become increasingly important that the central bank communicate in an effective and transparent manner. The Federal Reserve’s communications efforts are a work in progress, with several significant advances being implemented over the past few years.
In March 2002, the FOMC began to release the vote of its members immediately after its meetings. In December 2004, the FOMC accelerated the release of its minutes from an average of six weeks after the meetings to just three weeks after the meetings.