On forecasting future monetary policy: has forward-looking language mattered?

Simon Kwan

FRBSF Economic Letter, 2007, issue jun15

Abstract: This Economic Letter reviews the changes in the content of the FOMC statements over the past several years and examines how the accuracy of market forecasts of monetary policy has evolved. The analysis complements prior research showing that, as the FOMC took steps to foster greater transparency, the accuracy of the fed funds futures market in predicting future fed funds rates has improved. In recent years, the level of precision improved further as forward-looking language was included in the FOMC statements.

Keywords: Federal funds rate; Monetary policy; Forecasting (search for similar items in EconPapers)
Date: 2007
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.frbsf.org/publications/economics/letter/2007/el2007-15.pdf (application/pdf)
http://www.frbsf.org/publications/economics/letter/2007/el2007-15.html (text/html)
Our link check indicates that this URL is bad, the error code is: 404 Not Found (http://www.frbsf.org/publications/economics/letter/2007/el2007-15.html [301 Moved Permanently]--> https://www.frbsf.org/publications/economics/letter/2007/el2007-15.html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedfel:y:2007:i:jun15:n:2007-15

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in FRBSF Economic Letter from Federal Reserve Bank of San Francisco Contact information at EDIRC.
Bibliographic data for series maintained by Federal Reserve Bank of San Francisco Research Library ().