I Do What I Do

by Raghuram G. Rajan

We also need to communicate better with the outside. This means that we should get ahead of the press, rather than be reactive. If we want to highlight achievements or regulations, we should prepare a press release to focus the press on what is important – with the release getting to the point quickly rather than starting with pages of irrelevant history. Press releases are best done at or before 5.30 pm if you want it to show up in the papers. Beyond that, reporters do not have the time to write copy for the next day, and the news is too old for the day after. Some in the Bank disdain communication. ‘Why not let our achievements speak for themselves?’ they might say. Unfortunately, in this world where the press is more attentive and the public more hungry for news, we either should shape news or we will be shaped by it. The latter is infinitely more unpleasant – some may recall the way we were termed anti-technology for some actions we took against a taxi company.