Federal Reserve Officials Go Silent? Bank of America: Communication Strategy Undergoing Quiet Shift

Glonghui July 1｜Bank of America stated that U.S. Federal Reserve officials have significantly reduced their number of public appearances in the two weeks following the June policy meeting, which may be an early signal that Chair Powell is implementing a more low-profile communication strategy. Bank of America strategists pointed out that since the June FOMC meeting, including events scheduled through this weekend, Federal Reserve officials have made only 12 speeches and interviews. In contrast, since 2022, the average number of appearances in the same two-week period after Fed meetings has been about 23. This could indicate that FOMC participants are following Powell's preference for less public speaking, but it may also be due to the July 4th holiday and a lack of further guidance from the Fed officials after the June announcements. Time will tell whether this is a new trend or just noise.