How and what should the Federal Reserve communicate regarding monetary policy? St. Louis Fed President Alberto Musalem addressed the topic today during an event hosted by @CFMUK (the Centre For Macroeconomics) at @LSEnews (the London School of Economics and Political Science). He shared his view that a central bank should communicate how it turns incoming information into monetary policy – the framework for policy decisions. President Musalem discussed three gains from having a clearly communicated framework: smoother monetary policy transmission, better economic outcomes and stronger accountability to the public. Following his speech, he participated in a Q&A moderated by @R2Rsquared (Ricardo Reis), A. W. Phillips Professor of Economics at LSE. View President Musalem’s remarks: