Trust in Fed leads to lower inflation expectations – study
Political alignment shapes perceptions of central bank and views on economic outlook, NBER paper finds
People have lower inflation expectations and are less uncertain about prices and unemployment if they perceive the central bank to be more independent, researchers at the US National Bureau of Economic Research (NBER) have found.
The paper, published on February 27, examines how people’s beliefs about the US Federal Reserve are affected by their political alignment.
The authors – Pei Kuang, Michael Weber and Shihan Xie – conducted a survey on the day when Donald Trump was inaugurated for a second
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