Oxford Economic Research Institute: The need to build consensus in Washington is expected to limit its reform of the Federal Reserve.

The Oxford Economics Research Institute said in a report that Kevin Wash supports significant institutional reforms to the Federal Reserve and its communication strategy, but any changes he hopes to implement will be constrained by the necessity of building consensus among Fed officials. The Oxford Economics Research Institute stated, "The Fed Chair cannot unilaterally make such changes." "We expect that Wash's emphasis on the necessity of consensus will limit the extent of policy reform or the Fed's communication approach." Potential adjustments to the Fed's communication strategy may include: reducing the number of meetings of the Federal Open Market Committee (FOMC) each year, and not committing to holding a press conference after every FOMC meeting. The report also stated that Wash opposes using forward guidance as a policy tool and also opposes publishing economic forecasts.