New rules put clamp on chatty Fed officials

[Sorry folks, I wasn’t able to link to this article for some reason. I’ll work on that.]

“The Federal Reserve, in a push to control the often wayward communications of its top officials, issued detailed rules on Tuesday dictating what they can and cannot do.”
…
“The move is part of a broader effort at making the Fed appear less detached from public concerns following criticism during the financial crisis that policymakers were too kind to Wall Street at the expense of Main Street.”

This is complete double-speak. This move isn’t to make the Fed “appear less detached from public concerns.” It is to make the Fed MORE detached from public concerns! This is not about transparency, which is what we need the most right now. It is about obfuscation, pure and simple. Let them speak! Let us decide!

This is bad. That was so ineptly done, that it boggles the imagination. I’m going to have finish this tomorrow.

http://www.reuters.com/article/2011/07/13/us-usa-fed-communications-idUSTRE76B5JX20110713