WASHINGTON — Donald Kohn, former vice chairman of the Board of Governors of the Federal Reserve, said the Fed's exit from unconventional policies is "more difficult this time around" and stressed that communication is "critical" to obtaining the desired effects of unwinding the easy-money policy.

"The decision about when to exit will be more difficult this time around: it follows a long period of disappointing economic performance, making it hard to have confidence that adequate expansion can be sustained without unusual policies," Kohn wrote as part of the Brookings Institution publication, "Think Tank 20: The G-20 and Central Banks in the New World of Unconventional Monetary Policy."

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