In a Fox Business piece concerning the impact of future Federal Reserve Bank interest rate hikes on the stock market, this remark stands out for me.
[C]onventional wisdom holds that the more skillful Fed officials are at telegraphing their upcoming rate hikes, the less volatile markets will be once those hikes are announced.
That’s true enough as far as it goes, but the interesting bit is that the more skillful Fed officials are at telegraphing phrase.
Ordinarily, there’s no skill at all involved in making a simple, straightforward statement. One such could be we’ll raise interest rates by these increments, according to this schedule. Those milestones will be adjusted in this way by these factors that we will observe in real time.
That sort of clear, direct statement only takes skill when the speaker is a member of an organization which has institutionalized obfuscation.