Trump Pressuring the Fed

Peter Tillmann

MAGKS Papers on Economics from Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung)

Abstract: After appointing Federal Reserve Chairman Powell, President Trump steadily put pressure on the Fed to cut interest rates. We show that, on average, a statement from Trump 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.

Keywords: Federal Reserve; monetary policy; yield curve; political economy; central bank independence (search for similar items in EconPapers)
Pages: 8 pages
Date: 2019
New Economics Papers: this item is included in nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:mar:magkse:201920

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