Fed to talk to us more... WSJ

No new talk out of the Fed this week (of course, its only Monday) but WSJ's Greg Ip has this piece on new Fed policy regarding communication with the markets. An interesting excerpt:

"...Mr. Bernanke or Mr. Kohn are likely to address the economic outlook in public at least once between policy meetings as long as the economic outlook remains unsettled. The idea is to help the market identify the Fed's central view without relying solely on comments from lower-ranking members of the Federal Open Market Committee, the group of Fed governors and regional bank presidents that sets the target for short-term interest rates."

If recent history is any indication, however, there isn't any reason to think that more public appearances will do anything except add to the volatility - uncertainty - regarding what the FOMC might do.