Fed Near Communications Overhaul: Report

The Federal Reserve is close to finishing an overhaul of its communications strategy, according to a published media report.

The overhaul aims to make the central bank's communications about its goals for inflation and employment more explicit, and to explain more clearly what interest rates are needed to meet those goals, said the report, on The Wall Street Journal's Web site.

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Fed officials are likely to spend a lot of time at the Dec. 13 Federal Open Market Committee meeting working out unresolved pieces of the new strategy, the report added. The FOMC is the central bank's policy-setting group.> > Bull or Bear? Vote in Our Poll

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