Belfast Telegraph

US Federal Reserve to launch Facebook page

The US Federal Reserve will attempt to clamber for the public's attention among hundreds of funny cat videos and selfies by launching its own Facebook page.

America's central bank announced on its Twitter feed on Thursday that it was joining the social media giant to boost the "accessibility and availability" of its news and educational content.

More than 500 people have already liked the page, which includes a post highlighting the Fed's "five general functions to promote the effective operation of the US economy and public interest".

It is somewhat off the pace compared to the Bank of England, which has notched up in excess of 2,800 likes on Facebook after launching its page at the end of January.

The US Fed Reserve is no stranger to social media, with accounts on Twitter, YouTube, Flickr and Linkedin.

Fans of the Fed will be keeping a close eye on their feeds in the coming months as it is expected to hike US interest rates before the end of the year.

The minutes of the Fed's July 26-27 meeting, published on Wednesday, stated the near-term risks to the US economy had subsided and that an interest rate increase could soon be needed.