US Fed logs on to Facebook to boost visibility
The US Federal Reserve has created a Facebook page, adding to its existing Twitter, YouTube, Flickr and LinkedIn pages.
The Fed, often criticised for its communication methods, said in a statement it aims to “increase the accessibility and availability” of its “news and educational content” using Facebook’s likes, comments and shares.
But will the opportunity to like the Fed online help it to boost its famously low public approval ratings? This effort to reach out to the general public comes on the back of a post-recession 2009 Gallup poll that found 22 per cent of Americans surveyed thought the Fed was doing a poor job.
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This was only reduced slightly in a follow up poll in 2013.
Followers of the Fed on Facebook can expect to be treated to “press releases, speeches, testimony, reports, educational materials, photos, and videos”.
The social media page proved to be an instant hit. Shortly after creating it the Fed had racked up more than 5,000 likes from just three posts.
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Other financial institutions have already built up a Facebook presence. The Bank of England has a Facebook page, though governor Mark Carney has yet to join Twitter despite regular false alarms.