It’s not incumbent on a central banker to make his presentations interesting, riveting or at all fascinating.
And it seems that James Bullard the President and CEO of the Federal Reserve Bank of St. Louis is toeing the party line for all central bankers.
His latest presentation to the 2011 European Banking and Financial Forum in Prague today, 29th March 2011, was a timely reminder of the tedious PowerPoint presentations too often served up by central bankers…European and American.
This was a tedious presentation made worse by the bullet list approach taken to the explanation of quantitative easing (QE) and inflationary effects. Both could benefit from a more digestible explanation. The fact that neither benefited from such an explanation was a pity.
Perhaps we should have sensed the worst when we read the title for his presentation…”U.S. Monetary Policy: Recent Developments.” As an explanation of the subject matter it’s faultless. As an indicator of value, worth, meaning, relevance or inherent value for an audience member it’s meaningless.
There’s a sense that the primary purpose of this presentation was to be given to the presenter’s audience as a take-away item…a white paper, if you like. The abundance of copy on each slide reinforces that view.
If true, and there really is no way of knowing just yet, it fails as a white paper. Neither riveting informative presentation nor serious, factual white paper.
Is there hope for this presentation? Probably not. More than inflation, it required resuscitation–fewer words, not more. More pictures, images, graphs and digestible figures.
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