A fascinating case of humor in the Federal Open Market Committee meetings.
and cohesion. In intensive knowledge-sharing work environments, humour can also be important in the moment-to-moment unfolding of teamwork deliberation dynamics, as it can provide group members with emotional space to figure out their next steps in complex action sequences.
In their study, Boydstun and colleagues look at the fascinating case of humor and its change dynamics in the U.S. Federal Open Market Committee meetings. FOMC, a group comprised of 19 members, is a branch of the U.S. Federal Reserve charged with safeguarding U.S. market operations by controlling interest rates and the monetary supply. The group met 41 times between 2005 and 2008 in the critical periods before and after the market crash that began in August 2007.
Further analysis of transcripts revealed how members appeared to use playful banter directed at one another as a way to ease stress, support compromise, and strengthen bonds between members. This included lighthearted exchanges with humorous insults and playful compliments , and it sometimes involved a running thread of banter which seemed to create a more relaxed atmosphere and facilitate productive discussions around the complex issues at hand.
Boydstun and colleagues conclude by noting the importance of humor as a flexible tool that work groups can use to strengthen cohesion in good times and in bad. Based on the available literature and their study findings, they recommend that group leaders make use of positive, affiliative humor as a way to foster positive interaction between group members and stabilize group dynamics during changes in membership and in times of crisis.
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