There is perhaps no better example of the Federal Reserve's new commitment to "enhance its communications strategy" than Fed Presidents sitting as guest hosts on CNBC. The old days of hiding their intentions behind layers of undeciperable language before congressional committees is no more. Now they just go on major news networks and manage market expectations directly. Here, for example, Fed President James Bullard reverses any previous doubts that the Fed is going to withdraw stimulus from the market by saying, "Fed policy is very easy and it's going to stay easy for a long time...I think that's my main message this morning."
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