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Perceived FOMC: The Making of Hawks, Doves and Swingers

Klodiana Istrefi ()

Working papers from Banque de France

Abstract: Narrative records in US newspapers reveal that about 70 percent of Federal Open Market Committee (FOMC) members who served during the last 55 years are perceived to have had persistent policy preferences over time, as either inflation-fighting hawks or growth-promoting doves. The rest are perceived as swingers, switching between types, or remained an unknown quantity to markets. What makes a member a hawk or a dove? What moulds those who change their tune? We highlight ideology by education and early life economic experiences of members of the FOMC from 1960s to 2015. This research is based on an original dataset.

Keywords: Monetary Policy Committees; Federal Reserve; Policy Preferences (search for similar items in EconPapers)
JEL-codes: E03 E50 E61 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-his, nep-mac and nep-mon
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
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