Research from the Federal Reserve Bank of Atlanta

RESEARCH - The Behavior of Federal Funds Futures Prices over the Monetary Policy Cycle by Jeff Moore and Richard Austin, Federal Reserve Bank of Atlanta, Economic Review, Second Quarter 2002.

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The federal funds futures market enables market participants to both hedge interest rate risk and speculate on interest rate movements. Prices of federal funds futures also reveal market participants' expectations about changes in Federal Open Market Committee (FOMC) policy

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