Framing moves: Interpretive politics at the federal reserve

Abstract

Interpretive politics is a contest over the framing of ideas. In the context of closed-door, elite policymaking groups, interpretive politics shapes the thinking of both group members and the wider community of stakeholders. This article identifies a temporal structure to interpretive politics in group policymaking settings and a related set of "framing moves." Framing moves are actions taken by meeting participants to challenge existing policy frames and to project new ones. These moves correspond to the unfolding interpretive task of the meeting. The article explores interpretive politics at policy meetings of the Federal Reserve. I will examine the interpretive politics that characterize the group's efforts to enact a major policy change. Data are drawn from verbatim transcripts of meetings at which a major policy change was debated and approved.