Verbal guidance and the efficacy of forward guidance

Daniel Thornton

Economic Synopses, 2012, No 26

Abstract: The behavior of term OIS rates following the three instances of FOMC verbal guidance provides no support for the efficacy of the FOMC?s forward guidance monetary policy.

Keywords: Monetary policy; Federal Open Market Committee (search for similar items in EconPapers)
Date: 2012
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