Particularly when interest rates are low, central banks rely on communication with the public to help drive economic outcomes. Therefore, having consumers pay attention to and trust their forecasts about inflation, unemployment, and other factors is crucial to monetary policy-makers. Chicago Booth’s Michael Weber and his coauthors find evidence that when policy-making bodies, such as the Federal Reserve’s Federal Open Market Committee, make salient the identities of their underrepresented minority members, they can increase public interest and trust in their activities.

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