Netherlands paper looks at market reaction to Fed forecasts
Implied forecasts of inflation affect market expectations, paper finds
A working paper published by the Netherlands Bank looks at the possible effects of forecasts by the US Federal Reserve.
In Connecting the dots: market reactions to forecasts of policy rates and forward guidance provided by the Fed, Michelle Bongard, Gabriele Galati, Richild Moessner and William Nelson compare several of the Fed's forecasts. These are forecasts of the policy rate path provided by the Federal Open Markets Committee (FOMC) in its Summary of Economic Projections (SEP), the forward
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