If there was any doubt about the importance of Twitter in the banking world, it can now be put to rest. That's because no less than the Federal Reserve itself is now on Twitter -- with an unsurprisingly obvious handle, @federalreserve -- and an official logo.
In its statement announcing the new Twitter feed, the Fed said the channel is intended to make its news and information more accessible and available.
The central bank's website will remain its primary communication channel, and selected announcements will be tweeted after they're posted on the website, the Fed explained.
To start, the Fed's tweets will mention such items as press releases, speeches, testimony, reports to Congress and weekly statistical and rate-tracking reports. The Fed also will tweet about educational frequently asked questions and its own video links.
Here's a sampling of the Fed's first tweets, quoted verbatim, minus the accompanying links.
- "Weekly chart showing recent #Fed balance sheet trends"
- "See next week's schedule of speeches, testimony and events"
- "Interactive guide to our weekly balance sheet report"
- "Save the dates: Chmn #Bernanke speaks about the Fed and the financial crisis"
- "Read findings of a new report on mobile financial services"
- "Watch a video of Chairman #Bernanke explaining the structure of the Federal Reserve. #fed #economy"
Nice use of hash tags, no?
Within the first few days, @federalreserve attracted more than 16,000 followers.
But some might wonder: Who is the Fed following?
The answer is the Fed's own affiliated regional boards and various other arms of the federal government, including the Federal Trade Commission, @FTC; Consumer Financial Protection Bureau, @CFPB; U.S. Treasury, @USTreasuryDept; and U.S. Securities and Exchange Commission's Office of Investor Education and Advocacy, @SEC_Investor_Ed.
Follow me on Twitter: @marciegeff.