Atlanta Fed Starts a Blog




I'm not sure how I feel about this yet, I suppose we will have to see how it's doing when it has been around for a tad longer.

Via the Atlanta Fed:

For immediate release: Aug. 12, 2009

Atlanta Fed Web Site Adds Regional Blog

The Federal Reserve Bank of Atlanta today introduced SouthPoint, a regional economics blog. SouthPoint will provide commentary and observations on regional economic topics, issues, industries and trends.

SouthPoint can be found on the Atlanta Fed's Web site, www.frbatlanta.org, and will feature postings from the Bank's regional economists and analysts. "SouthPoint will provide the public, including our constituents in the Southeast, with unique insights and observations based on the Bank's analysis of the region, which is a key contributor to the nation's economy," said Michael Chriszt, assistant vice president responsible for the Atlanta Fed's Regional Economic Information Network (REIN).

New postings to SouthPoint will appear weekly. The first posting describes how the Southeast economy, because of its size and industrial diversity, offers insights into the national economy.

I'm a bit confused by the first post that claims the 6th district has the world's 8th largest economy. I thought that belonged to California? Way to forget about us, Atlanta Fed.

Is Atlanta Fed ahead of the pack (as far as I know, this is the first regional Fed bank blog, though it is entirely possible that I am behind the curve) or trying to run a really transparent PR campaign? I support the latter as the regional banks are pretty much on their own at this point.

It isn't the Fed's first leap into social media. Case in point, Twitter:

@NYFed_Data

@NYFed_news
@ClevelandFed
@CleveFed_ComDev
@ClevelandFedLC (the 4th District's "Learning Campaign" which thus far hasn't, uh, said anything - supposedly run by "Monte the Money Tree Squirrel" LOLZ)
@RichmondFed
@MinneapolisFed
@PhiladelphiaFed
@PhilFedEconEd (Philadelphia Fed's stab at financial literacy)
@PhilFedResearch

So we can clearly see which regional banks sort of get it.

Can't wait to see if Atlanta actually opens up the lines of communication instead of hiding behind the supposed transparency of social media for cover. I'm rooting for you to get it right, Atlanta, don't let me regret having said so later on down the road.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.

2 comments:

Scrat, nee Ben Bernanke said...

A Fed blog, hmm, probably as useful and insightful as advice from Bush Jr. on extemporaneous eloquence. Sorry JDA, I think they're gonna let ya down on the communication thang.

But with the Fed getting all social, and spinning announcements the way they are, it makes me optimistic that the threat of audit is actually making them sweat some.

It'll take more than tweets to shore up Bennie's weak-ass argument against audit, the way he put it here:
http://www.youtube.com/watch?v=HycCS0ONfns

Yuh, I'd rather have nameless faceless unaccountable 'independent' Fed shareholders doin' money supply, instead of gravy-dipping elected politicians. I mean damn, if Congress could influence money supply, they might fuck up the economy!

It's too late for the Fed to make nice with the plebes, a blog or three ain't gonna change that.

BB,

I know. I'm bracing for the let down as we speak. There might be some tears, maybe I'll make a depressing playlist and get through a pint or two of Vanilla Heath Bar Crunch. It's ok, I'll be alright.

The point of the post is this: Don't believe the Board. Don't listen to a think Zimbabwe Ben tells you. Don't even blink when their slick PR team tells you some crap about independence, blah blah blah. But the regional banks *do* serve a purpose to their respective districts and if they are making the attempt, it's reassuring. The regionals don't care, they already get audited. It's the Board that is scared, and for good reason.

I'm a cheerleader for the little guy. Or holding out for a coup. Either way, I'm in.

When Bernanke starts a blog, *that's* when you need to worry.

=P

Jr