They might not say much, but when the Federal Reserve speaks, people listen. And now, they’ll be listening to 140-character bites.
The Fed has signed on to Twitter, now sending its notoriously vague statements to the public about monetary policy in tweet form.
You can follow The Fed on Twitter at @federalreserve.
Created just about 24 hours ago, this account over 14,000 followers and had tweeted just six times.
According to a press release from The Fed, the purpose of the account is to “increas[e] the accessibility and availability of Federal Reserve Board news” to the general public.
So far, they’ve tweeted a video of Chairman Ben Bernanke explaining the structure of the Federal Reserve, a speech on community banking, findings of a report on mobile financial services, upcoming dates that Bernanke will be speaking, and a press release.
They’re also planning to tweet frequently asked questions and educational content.
The Fed is known to be one of the most tight-lipped institutions in the US, staying mum on interest rates, monetary policy and the rest. Because of this notorious silence, you can expect that this won’t be the most engaging of Twitter accounts. In fact, I’d be pretty surprised if it reached out to followers and @mentioned anyone, other than perhaps world leaders and major monetary policy experts.
(Federal Reserve image via Shutterstock)