Fed's Musalem (2028 voter) says central bankers needn't make promises, but should tell the public how and why central bank makes policy decisions

Well-articulated framework should include two or three likely scenarios. Central banks should avoid communications and actions with no framework to make sense of them. A central bank that keeps its framework to itself forces market participants to guess at its reaction, rather than focusing on data. Communicating the framework makes policy more effectivee, and lowers costs for households and businesses.