Mester Urges Fed to Explain Its Decisions, Policies More Clearly

The Federal Reserve has transformed how it communicates with the public in recent decades, and Loretta Mester has had a front-row seat. She’s attended more than 200 of the US central bank’s policy meetings, first as a staffer on the sidelines and, since 2014, as a policymaker at the table.

Now, on the eve of her retirement, she says the Fed can do better still.

The outgoing Cleveland Fed chief, who is set to step down at the end of the month after four decades at the central bank, told Bloomberg News that officials can help the public better understand ...