Monetary Policy Actions, Macroeconomic Data Releases, and Inflation Expectations
نویسنده
چکیده
concept of inflation compensation. Finally, we provide evidence that Federal Reserve communication and surprises in monetary policy actions bear on the uncertainty surrounding the expected rate of inflation. For one concept of inflation expectations, we find that Federal Reserve communication reduces uncertainty about the future rate of inflation, while surprises in monetary policy actions increase this uncertainty. For the other concept of inflation compensation, we find no such effects.
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