Yellen heads FED communication panel - how to speak with one voice

"Yellen must show how 12 Fed Opinions Become One Policy" a story by Craig Torres provides an interesting insight on the problem with Fed communication. It is simple. There is too much of it from too many people. Everyone has an opinion and everyone is willing to give it. Let central banker freedom ring, but the expense is high. There is no certainty on the forecast of the Fed. There is little agreement on the priorities between inflation and unemployment. There is no set of rules.

More formally, there is no reaction function that can be used to determine what will happen during certain economic scenarios. Consequently, investors will stay on the sidelines.