--and the FED w/o Obama has done a pretty good job; but as far as 'Fed fatigue' goes the problem may be all the nonsense the Fed-bashers have been complaining about w/ regards to alleged 'secrecy'. The real problem may be that the Fed's just too darn open and it needs a much lower profile. From Investor's dot com:
'You don't tell the markets anything. You just implement policy — slowly and smoothly." That was the communication policy of late Fed Chairman William McChesney Martin (1906-1998), as recalled by finance professor Lewis Spellman of the University of Texas at Austin.
Spellman, who worked at the Fed during the Johnson administration, remembers Martin vividly and believes that Martin is the most successful Fed chairman in history. One measure of success is longevity. Martin was the longest-serving Fed chairman, holding office during the Truman, Eisenhower, Kennedy, Johnson and Nixon administrations (1951-1970).
Few Americans had heard of William Martin back then, and that's how he wanted it. He deliberated on monetary policy in private, issued a statement and went home. He let the markets figure out the intent of the Fed's moves without spoon-feeding them additional thoughts or wandering off on academic lectures.
According to Professor Spellman, Chairman Martin understood that trying to manipulate the financial press and markets is a losing game.
How the communications policy of our Fed has changed, and not for the better. In one recent week alone, more than 15 different Fed officials were making speeches on the economy and monetary policy.
Read More At Investor's Business Daily: http://news.investors.com/ibd-editorials-viewpoint/100615-774311-fed-chairman-janet-yellen-talks-too-much.htm#ixzz3oTkaMJHs
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[Maybe I need to post this article as a separate thread....]