Search Results
Showing results 1 to 10 of approximately 51.
(refine search)
Speech
The Economic Outlook and Monetary Policy Communications 03.21.17 The Stanley S. Watts Lecture, The Robins School of Business, University of Richmond, Richmond, VA
Mester, Loretta J.
(2017-03-21)
This evening, I will speak about monetary policy and the role of communications in Federal Reserve policymaking. I serve on the Federal Open Market Committee?s subcommittee on communications, so it may not be surprising that I believe communications play an essential role in monetary policy implementation. Of course, my remarks this evening will reflect my own views and not necessarily those of the Federal Reserve System or my colleagues on the Federal Open Market Committee.
Speech
, Paper 80
Speech
The U.S. economic outlook and the implications for monetary policy: remarks at Money Marketeers of New York University, New York City
Dudley, William
(2017-09-08)
Remarks at Money Marketeers of New York University, New York City.
Speech
, Paper 254
Working Paper
Should the Fed regularly evaluate its monetary policy framework?
Fuhrer, Jeffrey C.; Olivei, Giovanni P.; Rosengren, Eric S.; Tootell, Geoffrey M. B.
(2018-10-01)
Would a more open and regular evaluation of the monetary policy framework improve policy in the United States? Even when considering a relatively short timeframe that spans the 1960s to the present, it is possible to point to many significant changes to the framework. Some of the changes were precipitated by acute economic conditions, while others were considered and implemented only gradually as a response to long-standing problems with the framework. But the process for evaluating and changing frameworks to date has not always been transparent, and changes have not always been timely. Could ...
Working Papers
, Paper 18-8
Speech
The U.S. economic outlook and implications for monetary policy
Dudley, William
(2016-02-29)
Remarks at the People?s Bank of China-Federal Reserve Bank of New York Joint Symposium, Hangzhou, Zhejiang, China.
Speech
, Paper 194
Working Paper
Deciphering Federal Reserve Communication via Text Analysis of Alternative FOMC Statements
Yang, Shu-Kuei X.; Song, Dongho; Doh, Taeyoung
(2020-10-06)
We apply a natural language processing algorithm to FOMC statements to construct a new measure of monetary policy stance, including the tone and novelty of a policy statement. We exploit cross-sectional variations across alternative FOMC statements to identify the tone (for example, dovish or hawkish), and contrast the current and previous FOMC statements released after Committee meetings to identify the novelty of the announcement. We then use high-frequency bond prices to compute the surprise component of the monetary policy stance. Our text-based estimates of monetary policy surprises are ...
Research Working Paper
, Paper RWP 20-14
Discussion Paper
Preparing for Takeoff? Professional Forecasters and the June 2013 FOMC Meeting
Moench, Emanuel; Eusepi, Stefano; Crump, Richard K.
(2013-09-09)
Following the June 18-19 Federal Open Market Committee (FOMC) meeting different measures of short-term interest rates increased notably. In the chart below, we plot two such measures: the two-year Treasury yield and the one-year overnight indexed swap (OIS) forward rate, one year in the future. The vertical line indicates the final day of the June FOMC meeting. To what extent did this rise in rates following the June FOMC meeting reflect a shift in the expected future path of the federal funds rate (FFR)? Market participants and policy makers often directly read the expected path from ...
Liberty Street Economics
, Paper 20130909
Journal Article
Did the Federal Reserve Anchor Inflation Expectations Too Low?
Bundick, Brent; Smith, Andrew Lee
(2021-03-04)
In 2012, the Federal Reserve adopted a 2 percent target for inflation to firmly anchor longer-term inflation expectations. Since then, inflation has averaged about 1.4 percent. Modern theories suggest that inflation should eventually gravitate toward measures of longer-run inflation expectations. The tendency for inflation to reside below the Federal Reserve’s 2 percent inflation target over much of the past decade raises questions of whether longer-run inflation expectations are anchored—and, if so, whether they are anchored below 2 percent.Brent Bundick and A. Lee Smith argue that the ...
Economic Review
, Volume 106
, Issue no.1
, Pages 5-23
Speech
The economic outlook and monetary policy
Plosser, Charles I.
(2014-10-16)
Lehigh Valley Partnership and Lehigh Valley Economic Development Corporation. Allentown, PA. President Charles Plosser gives his views on the regional and national economy and discusses why he remains optimistic about the economic outlook. He also shares his thoughts about monetary policy and explains why he departed from the majority view at the July and September FOMC meetings.
Speech
, Paper 105
Working Paper
Gauging the Uncertainty of the Economic Outlook Using Historical Forecasting Errors : The Federal Reserve's Approach
Reifschneider, David L.; Tulip, Peter
(2017-02-24)
Since November 2007, the Federal Open Market Committee (FOMC) of the U.S. Federal Reserve has regularly published participants? qualitative assessments of the uncertainty attending their individual forecasts of real activity and inflation, expressed relative to that seen on average in the past. The benchmarks used for these historical comparisons are the average root mean squared forecast errors (RMSEs) made by various private and government forecasters over the past twenty years. This paper documents how these benchmarks are constructed and discusses some of their properties. We draw several ...
Finance and Economics Discussion Series
, Paper 2017-020
Speech
Observations on implementing monetary policy in an ample-reserves regime: remarks before the Money Marketeers of New York University, New York City
Logan, Lorie
(2019-04-17)
Remarks before the Money Marketeers of New York University, New York City.
Speech
, Paper 318
FILTER BY year
FILTER BY Bank
Federal Reserve Bank of New York 15 items
Federal Reserve Bank of Kansas City 12 items
Federal Reserve Bank of Philadelphia 6 items
Board of Governors of the Federal Reserve System (U.S.) 5 items
Federal Reserve Bank of Richmond 4 items
Federal Reserve Bank of Boston 2 items
Federal Reserve Bank of Chicago 2 items
Federal Reserve Bank of Cleveland 2 items
Federal Reserve Bank of St. Louis 2 items
Federal Reserve Bank of San Francisco 1 items
show more (5)
show less
FILTER BY Series
Speech 19 items
Economic Review 5 items
Macro Bulletin 5 items
Finance and Economics Discussion Series 4 items
Liberty Street Economics 4 items
Working Papers 4 items
Econ Focus 3 items
Chicago Fed Letter 1 items
Economic Perspectives 1 items
International Finance Discussion Papers 1 items
Proceedings - Economic Policy Symposium - Jackson Hole 1 items
Research Working Paper 1 items
Review 1 items
Richmond Fed Economic Brief 1 items
show more (9)
show less
FILTER BY Content Type
Speech 19 items
Journal Article 15 items
Working Paper 10 items
Discussion Paper 4 items
Briefing 1 items
Conference Paper 1 items
Newsletter 1 items
show more (2)
show less
FILTER BY Author
Bundick, Brent 5 items
Plosser, Charles I. 4 items
Smith, Andrew Lee 4 items
Crump, Richard K. 3 items
Logan, Lorie 3 items
Moench, Emanuel 3 items
Potter, Simon M. 3 items
Williams, John C. 3 items
Croushore, Dean 2 items
Davig, Troy A. 2 items
Doh, Taeyoung 2 items
Dudley, William 2 items
Eusepi, Stefano 2 items
Fessenden, Helen 2 items
Herriford, Trenton 2 items
Ihrig, Jane E. 2 items
Kahn, George A. 2 items
Lucca, David O. 2 items
Mester, Loretta J. 2 items
Weinbach, Gretchen C. 2 items
Yang, Shu-Kuei X. 2 items
van Norden, Simon 2 items
Becker, Thealexa 1 items
Brave, Scott 1 items
Bullard, James B. 1 items
Campbell, Jeffrey R. 1 items
Clarida, Richard H. 1 items
Coughlin, Cletus C. 1 items
Daly, Mary C. 1 items
Ennis, Huberto M. 1 items
Ericsson, Neil R. 1 items
Fuhrer, Jeffrey C. 1 items
Hakkio, Craig S. 1 items
Kim, Sungil 1 items
Kirk, Kyler 1 items
Meade, Ellen E. 1 items
Mize, Lawrence 1 items
Oksol, Amy 1 items
Olivei, Giovanni P. 1 items
Palmer, Andrew 1 items
Pollard, Emily 1 items
Powell, Jerome H. 1 items
Reifschneider, David L. 1 items
Rosengren, Eric S. 1 items
Song, Dongho 1 items
Tang, Jenny 1 items
Thornton, Daniel L. 1 items
Tootell, Geoffrey M. B. 1 items
Tulip, Peter 1 items
Walstrum, Thomas 1 items
Weinberg, John A. 1 items
show more (46)
show less
FILTER BY Jel Classification
FILTER BY Keywords
FOMC 51 items
Monetary Policy 19 items
Inflation 7 items
Federal Open Market Committee 5 items
balance sheets 5 items
Forecasting 4 items
COVID-19 3 items
Federal Reserve 3 items
Greenbook 3 items
LIBOR 3 items
the Desk 3 items
fiscal policy 3 items
forward guidance 3 items
monetary policy normalization 3 items
Federal Open Market Committee (FOMC) 2 items
Federal funds rate 2 items
Natural language processing 2 items
asset purchases 2 items
floor system 2 items
labor markets 2 items
monetary policy implementation 2 items
mortgage-backed securities (MBS) 2 items
normalization 2 items
pandemic 2 items
portfolio size 2 items
purchases 2 items
taper tantrum 2 items
Deficits 2 items
Economy 2 items
Interest rates 2 items
10-year Treasury yield 1 items
Alternative FOMC statements 1 items
Alternative Reference Rates Committee (ARRC) 1 items
Autometrics 1 items
Balance Sheet Normalization Principles and Plans 1 items
Balance sheet management 1 items
Balance sheet policy 1 items
Bank of England 1 items
Beige book 1 items
Communication 1 items
Counterfactual policy evaluation 1 items
Data 1 items
Disagreement 1 items
Economic outlook 1 items
FOMC Statements 1 items
FOMC communications 1 items
FRBNY 1 items
Fan Charts 1 items
Fed 1 items
Federal Home Loan Banks (FHLBs) 1 items
Federal Reserve Board and Federal Reserve System 1 items
Federal Reserve balance sheets 1 items
Federal Reserve bank of New York 1 items
Federal Reserve criticism 1 items
Federal funds 1 items
GDP 1 items
Great Recession 1 items
Greenspan’s Conundrum 1 items
Hurricane Harvey 1 items
Inflation Targeting 1 items
Joseph E. Gagnon 1 items
Liquidity Coverage Ratio (LCR) 1 items
Manufacturing Business Outlook Survey 1 items
Monetary policy stance 1 items
Money Market Mutual Fund Liquidity Facility (MMLF) 1 items
Nonmanufacturing Business Outlook Survey 1 items
Primary Dealer Survey 1 items
Quantitative easing 1 items
R-star 1 items
Regional economy 1 items
Reserve Bank of New Zealand 1 items
SOFR 1 items
SOMA portfolio 1 items
Securities redemption 1 items
Securities reinvestment 1 items
Soros 1 items
Summary of Economic Projections (SEP) 1 items
Survey of Professional Forecasters (SPF) 1 items
System Open Market Account 1 items
System Open Market Account (SOMA) 1 items
TGA 1 items
Tax Cuts and Jobs Act 1 items
Tealbook 1 items
Text analysis 1 items
Treasury 1 items
Treasury bills 1 items
Treasury market 1 items
Treasury’s General Account (TGA) 1 items
Uncertainty 1 items
United States 1 items
ample reserves regime 1 items
ample-reserves regime 1 items
balance sheet normalization 1 items
bias 1 items
central bank communications 1 items
commitment 1 items
confidence 1 items
corridor system 1 items
credit 1 items
demand 1 items
demand for reserves 1 items
dual mandate 1 items
economic growth 1 items
emerging market economies (EMEs) 1 items
equity premium puzzle 1 items
evolution of monetary policy 1 items
federal funds rates 1 items
financial asset bubbles 1 items
financial conditions 1 items
financial crisis 1 items
financial stability 1 items
flexibility 1 items
forecasts 1 items
functioning 1 items
gradualism 1 items
high-quality liquid assets 1 items
impulse indicator saturation 1 items
independence 1 items
invisible hand 1 items
labor resource utilization 1 items
large-scale asset purchase programs (LSAPs) 1 items
liabilities 1 items
liftoff 1 items
liquidity 1 items
longer-term holding 1 items
low inflation 1 items
lowest comfortable level of reserves (LCLoR) 1 items
markets 1 items
monetary policy framework 1 items
monetary policy predictability 1 items
monetary policy tools 1 items
money market turbulence 1 items
natural evolution of Federal Reserve language 1 items
open market operations 1 items
overnight reverse repurchase (ON RRP) 1 items
overnight reverse repurchase agreements 1 items
policy rules 1 items
portfolio 1 items
portfolio composition 1 items
portfolio runoff 1 items
predictability 1 items
prevention of market dysfunction 1 items
prices 1 items
primary dealer credit facility 1 items
professional forecasts 1 items
projections 1 items
rate of interest paid on reserves (IOR) 1 items
real GDP growth 1 items
recruitment effect 1 items
reinvestment of principal payments 1 items
reserve balances 1 items
reserve buffer 1 items
reserves 1 items
seasonality 1 items
securities 1 items
spreads 1 items
standardized over-the-counter (OTC) derivatives contracts 1 items
stock market 1 items
stock view 1 items
strong economy 1 items
structural changes 1 items
taxes 1 items
term dollar money markets 1 items
transition 1 items
treasury issues 1 items
zero lower bound 1 items
show more (171)
show less