Fed Communications and Inflation Expectations
Federal Reserve Bank Of San Francisco·2026-04-01 00:00
FRBSF Economic Letter 2026-08 | March 31, 2026Monetary policy surprises—changes in various interest rates around central bank communication events—reflect new information in monetary policy actions and communications. For the Federal Reserve, surprises around Federal Open Market Committee statements and post-meeting press conferences have, in recent years, often led to meaningful market surprises that capture policy news. Event-study analysis provides new market-based evidence of monetary policy transmissio ...