In conducting monetary policy,how has the Federal Reserve enhanced its credibility?

Question

Quizplus · Accepted Answer

By revealing the Fed's target for the federal funds rate, the Federal Reserve has enhanced its transparency and accountability, which in turn has increased its credibility as a monetary policy authority. This has allowed market participants and the public to better understand the Fed's actions and decisions, leading to increased trust in the institution.

In Conducting Monetary Policy,how Has the Federal Reserve Enhanced Its