What exactly does that mean, Mr. Chairman?

Allen Wastler, the managing editor of CNBC.com, writes about the potential for press conferences at the Federal Reserve Board, which has not been holding such events.

Wastler writes, “It’s a notion of particular interest to business journalists, since we’re covering the institution all the time. The central bank is typically aloof and guarded in its communications. The Big Guy’s unscripted discussions usually come in appearances before Congress or in carefully controlled interviews with journalists who aren’t beat reporters (see the ‘60 Minutes’ appearance a few weeks ago. My colleague Steve Liesman had a few choice words about that).

“When the Fed chairman does speak, the answers can be a little opaque and hard to follow. Alan Greenspan was the master of the turgid comeback, but Bernanke can do some mean gobbledigook too.

“Of course, there’s a good reason for all this. One misstatement or fumbled answer from the Fed Chief could conceivably give the Flash Crash a run for its money. Nevertheless the central bank isn’t getting credit for keeping its distance these days. Instead it’s getting grief for its lack of transparency.

“Press conferences would change the journalistic ball game somewhat. For starters, you’d get the chance to publicly say what most people are probably thinking: ‘What exactly does THAT mean, Mr. Chairman?'”

Read more here.