2. What did we set out to do?

3. Improve the Fed’s relationship with the public

4. Our objectives
Moderate long-term
Maximize employment Stabilize prices interest rates

5. How confident are you that you could explain what the Federal Reserve does?
No way
Not likely
Probably
Definitely
0 20 40 60 80
People have a hard time understanding what you
do and what you stand for.

6. How would you rate the job being done by each government agency?
Would you say it is doing an excellent, good, only fair, or poor job?
80
60
40
20
0
Homeland Federal
CDC NASA FBI CIA Security EPA IRS FDA Reserve
% Excellent/Good
“Agency Ratings;
Federal Reserve Board Lowest”
* source: Gallup Poll (July 2009)

7. The public perceives the Fed to be
fully in control, but the reality is some
responsibility also falls on the public.
If we don’t improve their level of responsibility,
history will repeat itself.

8. Consumer outreach
Maximize employment Stabilize prices Moderate long-term
interest rates
We want to add an initiative that will
help accomplish our other objectives

9. Definitely Interested
23%
Not Interested
9%
Interested
44% Somewhat Interested
24%
Question: “What is your level of interest in learning
more about how the Fed makes decisions?”
* source: proprietary survey

10. What does public outreach look like?
Create a financially well-informed and responsible public.

11. What does the Fed need to get there?
Branding initiative
Transparency. Communication. Engagement.

12. Transparency
Engagement Communication

13. Transparency

14. said the word “conspiracy”
came to mind when thinking of the Fed.
Transparency. Communication. Engagement.
* source: proprietary survey

15. “Poll: Three in Four Americans Want a
Federal Reserve Audit”
Transparency. Communication. Engagement.
* source: Digital Journal

16. 1) Address the general public
(Report to Americans)
Transparency. Communication. Engagement.

17. Release content through various media
(video, transcript, podcasts, etc)
Transparency. Communication. Engagement.

18. 2) Keep a blog
Transparency. Communication. Engagement.

22. 3) Enable website feedback
Transparency. Communication. Engagement.

23. Clarity. Trust. Relevance. Interest.

24. 4) Go out of your way to connect with others
Transparency. Communication. Engagement.

27. Communication

28. 1) Clarify your message
Transparency. Communication. Engagement.

29. Transparency. Communication. Engagement.

30. Transparency. Communication. Engagement.

31. Moderate long-term
interest rates
Stabilize prices
Maximize employment
Central bank Financial education
Safe, flexible, & stable
monetary and financial systems
Transparency. Communication. Engagement.

32. Maximize employment Central bank
Stabilize prices STABILITY Financial education
Safe, flexible, & stable Moderate long-term
monetary and financial systems interest rates
Transparency. Communication. Engagement.

35. Inconsistency between the Fed entities causes confusion in a consumer’s mind
Transparency. Communication. Engagement.

36. 2) Update the look & feel
Transparency. Communication. Engagement.

37. Current website

38. Even small visual changes can make it feel less static and more modern.

39. 3) Create a new consumer-centric campaign
Transparency. Communication. Engagement.

40. Federal Reserve
Consumer Outreach

41. Federal Reserve
Consumer Outreach
1) Develop a strong sub-brand for consumers
Transparency. Communication. Engagement.

42. MyMoney.gov functions as a directory for other resources

43. People are most interested in content that relates to their life.
* source: proprietary survey

44. Federal Reserve
Consumer Outreach
Organize content according to life stages
Update tools to be interactive and relevant
(PDF’s are ok, but people learn more from
interactive tools)
Use information graphics (long blocks of text
are less likely to be read and understood)
Financial terms reference guide
Example from mint.com blog on “How the Fed Works”
Transparency. Communication. Engagement.

45. Federal Reserve
Consumer Outreach
2) Continuously create new & original content
Transparency. Communication. Engagement.

46. Federal Reserve
Consumer Outreach
Use the unique resources & strengths of the Fed to provide interesting & relevant content
Speaker Series
Examples of the types of people that may be useful:
Christine Lagarde (G-8 Finance Minister)
Al Gore (former Vice President)
Ben Bernanke
Elizabeth Warren (Chair of the TARP Congressional Oversight Committee)
Robin Chase (co-founder of Zipcar)
Roland Fryer (founder of the Education Innovation Laboratory)
Transparency. Communication. Engagement.

47. Engagement

48. 1) Enable & encourage participation (user submitted content, competitions)
Transparency. Communication. Engagement.

49. Provides content for you & makes people feel they are part of the cause
(example: asking people to submit a video telling their story on a subject)

50. 2) Use social media to share your content
Transparency. Communication. Engagement.

53. 3) Use SEO & pay-per-click ads to have a voice and be sure you’re found
Transparency. Communication. Engagement.

54. For-profit companies are advertising, so if the Fed doesn’t do it, then
we don’t have a voice in the conversation

55. 4) Create PSA advertising
Transparency. Communication. Engagement.

56. Pursue Happiness.
Federal Reserve
Consumer Outreach

57. Make smart decisions
Finance responsibly In-office banter at the Fed
The Journey of a Monetary efficiency...
Federal Reserve Note with everything
Pursue Happiness.
Army of nerds...
Finance Facts working to make you
financially smarter
Endless creative
possibilities...
Transparency. Communication. Engagement.

58. Feed The Pig
(Case Study)

59. FeedThePig.org has a similar goal (financial education)

60. They provide content using a fun, interesting, and interactive method
that gets attention and keeps people engaged

61. Within 8 months...
Unique site visitors = 2 million
Total donated media = $60 million

62. Why should the Fed do this?

63. Creating a financially well-informed and
responsible public supports....
“maximum employment, stable prices, and moderate long-term interest rates”
which is the Fed’s mandate
and responsibility to the public.

64. For questions, comments
or further consulting, please contact:
Blake Manosh
802-498-4320
blake@manoshdesign.com
Linkedin: http://www.linkedin.com/in/blakemanosh