econ.trib.al – IN George Orwell’s “1984”, there was “oldspeak”, “duckspeak”, “doublespeak” and “newspeak”. In modern central banking, there is “Fedspeak”. One of the Federal Reserve’s principal means of communicating its views on monetary policy is to issue a press statement after its regular Federal Open Market Committee (FOMC) policy meetings. These statements have become longer and more complex, according to a recent report by Rubén Hernández-Murillo and Hannah Shell of the Federal Reserve Bank of St Louis, perhaps contradicting their original purpose.

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