ICYMI: Federal Reserve fights back over crisis lending
For many organizations, countering criticism in the press is part and parcel of their communications strategy. But, this week the Federal Reserve did what it does not usually do – counter media myths with a point-by-point rebuttal.
Fed Chairman Ben Bernanke issued a letter to congressional banking committees concerning loans made to banks during the 2008 financial crisis.
“These articles have largely repeated the same information in different formats, and have contained a variety of egregious errors and mistakes,” Bernanke wrote.
While Bernanke did not single out a particular news organization, it was an article by Bloomberg News which was the source of much of the misinformation. From holding periodic news conferences to appearing on national news programs, Bernanke has adopted a communications strategy far different from his predecessors.