Connecting “The Dots”: Disagreement in the Federal Open Market Committee

Richard Crump, Troy Davig, Stefano Eusepi and Emanuel Moench

No 20140925a, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: People disagree, and so do the members of the Federal Open Market Committee (FOMC). How much do they disagree? Why do they disagree? We look at the FOMC’s projections of the federal funds rate (FFR) and other variables and compare them with those in the New York Fed’s Survey of Primary Dealers (SPD). We show that the members of the FOMC tend to disagree more than the primary dealers and offer some potential explanations.

Keywords: FOMC; Primary Dealer Survey; Disagreement; Summary of Economic Projections (SEP) (search for similar items in EconPapers)
JEL-codes: E2 E5 (search for similar items in EconPapers)
Date: 2014-09-25
New Economics Papers: this item is included in nep-mac
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