Consumer inflation expectations: Daily dynamics

• 成果类型: Article
• 署名作者: Binder, Carola Conces; Campbell, Jeffrey R.; Ryngaert, Jane M.
• 署名单位: University of Texas System; University of Texas Austin; Tilburg University; University of Notre Dame
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2024.103613
• 发表日期: 2024
• 关键词: Event study; Macroeconomic data releases; Federal reserve announcements

摘要

We use high frequency identification methods to study the response of consumer inflation expectations to many different types of events using data from the Federal Reserve Bank of New York's Survey of Consumer Expectations. We identify the response of expectations to a large set of shocks, including FOMC meetings and macroeconomic data releases. We find that macroeconomic news and FOMC meetings with a press conference or rate cuts jointly move expectations.