TRUMP, TWITTER, AND TREASURIES

Peter Tillmann

Contemporary Economic Policy, 2020, vol. 38, issue 3, 403-408

Abstract: After appointing Federal Reserve Chairman Powell, President Trump put pressure on the Fed to cut interest rates. We show that, on average, a statement from Trump on the Fed led to lower long‐term interest rates, consistent with expectations of lower expected future short rates. However, the impact of Trump's statements declined over time. (JEL E52, E43, E32)

Date: 2020
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