Warsh invited former Bank of England Governor Mervyn King to lead the Federal Reserve's communications working group.

Shenchao TechFlow message: On July 01, the chairman of the U.S. Federal Reserve, Wossh, has invited Mervyn King, the former governor of the Bank of England, to serve as co-chair of the Fed’s newly established communications working group.

Wossh has made reforming the Fed’s communication approach one of the core parts of his leadership work, and vowed to reexamine how officials communicate the outlook for monetary policy to the public and investors. He has not promised to hold press conferences after every Fed interest-rate decision, and in the past he encouraged policymakers to reduce the frequency of public speeches. Inviting Mervyn King to serve as co-chair of the communications working group will provide a rare opportunity for the outside world to scrutinize how the Fed operates.

Mervyn King served as governor of the Bank of England from 2003 to 2013, and led the bank through the 2008-2009 financial crisis. He confirmed through his office that he will serve as co-chair of the communications working group. (Jin Shi)