Does the Federal Reserve follow a communication rule? We propose a simple framework to estimate communication rules … communication rules that vary over time, with changes in the rule often being associated with changes in the economic environment …. We also find that shifts in communication rules increase disagreement among professional forecasters and correlate with …

This paper presents novel causal evidence on the relationship between various communication channels employed by … communication matters, holding the target message constant: Relative to a text transcript, audiovisual mediums (audio, photograph …