Are heterogeneous FOMC forecasts consistent with the Fed’s monetary policy?

Ralf Fendel and Jan-Christoph Rülke

Economics Letters, 2012, vol. 116, issue 1, 5-7

Abstract: Yes, they are! We find that although there is a surprisingly high dispersion of individual forecasts and some dissent on the Federal Funds target, the FOMC’s individual behavior is well described by a Taylor-type rule.

Keywords: FOMC; Forecasts; Taylor rule (search for similar items in EconPapers)
JEL-codes: C23 E31 E37 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:116:y:2012:i:1:p:5-7

DOI: 10.1016/j.econlet.2011.12.132

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