The Wall Street Journal’s Daily Report on Global Central Banks for Thursday, April 16, 2015:

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You have to wonder how Janet Yellen feels about Ben Bernanke’s new blog.

For much of the past year, the Federal Reserve Chairwoman has been mapping out a complex strategy for the mechanics of raising short-term interest rates. The effort has consumed large portions of Fed policy meetings and resulted in stacks of staff memos. On Wednesday, Mr. Bernanke suggested she adopt a new strategy.