Why Fed Chair Powell Tries to Speak Plainly

The transcript discusses the speaker's unique background as a lawyer rather than an economist, emphasizing the importance of clear communication with the public and avoiding jargon. It highlights the necessity for the Federal Reserve to engage with the public and Congress to maintain democratic legitimacy. The speaker also describes the typical interactions between the Fed Chair and the Secretary of the Treasury, as well as the infrequent meetings with the President.

What challenges do large public and private institutions face in maintaining public support?

Why is it essential for the Fed to engage with the public proactively?