Bernanke taps senior officials to explore communication

Fed chief Ben Bernanke has called on three of the central bank's most experienced officials to explore a broad range of issues related to how the Fed talks to financial markets. The subcommittee of the Federal Open Market Committee will be chaired by Fed governor Donald Kohn and include Minneapolis Fed president Gary Stern and San Francisco Fed president Janet Yellen, the Fed announced at the end of its summary of the FOMC's May 10 meeting. Kohn told the FOMC that the "objective of the subcommittee was to help the FOMC frame and organize discussion of a broad range of such issues over coming meetings."