U.S. calls on China to prevent Iran from closing Strait of Hormuz and disrupting global oil flows

Good morning and welcome to San Francisco. It’s a complete pleasure to be here today and an honor to be speaking at the WEAI 100th annual conference. That’s quite a milestone, and a testament to the association’s enduring contributions to economic research. So, well done and happy anniversary. Now, when Maury first invited me to speak, I thought of many topics worthy of focus. But one rose above all others, perhaps because it’s perennial, and that is central bank communication. As researchers, and educators, you understand the importance of communicating. It is a large part of your jobs. For central bankers, this value has often been harder to recognize. Even doubted. Communication has always come with questions: Should we communicate? How often? And what should we say? On the question of “should we,” my answer is simple. Absolutely. Public institutions have an unequivocal obligation to share information. Central banks are no exception. It is a duty of public service to be transparent about and accountable for our actions. But this itself is not a license to reflexively do more and more. Communication is also a responsibility, and it comes w post: Fed’s Daly Explains Risks To Goals Are Mostly Even, Urges Focus On Both. post: Fed’s Daly Warns That More Slowing In The Labor Market May Lead To A Weakening Economy post: Fed Daly: policy is in a good place now