Federal Reserve officials collectively "silence"? Bank of America: Communication strategy undergoing silent transformation.

Bank of America stated that Federal Reserve officials significantly reduced their public appearances in the two weeks following the June policy meeting, which could be an early signal that Chair Powell is implementing a more low-key communication strategy. Bank of America strategists pointed out that since the June FOMC meeting, Federal Reserve officials have only participated in 12 speeches and interviews, including those scheduled up to this weekend. In contrast, the average number of appearances by Fed officials in the same two-week period following meetings since 2022 has been around 23 times. This may indicate that FOMC participants are following Powell's desire to speak less, but it could also be due to the July 4th holiday and Fed officials not having any additional guidance to supplement the one released in June. Time will tell if this is a new trend or just noise.