Kansas City Fed article finds markets anticipated QE announcements
Markets had "some degree of advance expectation" for each of the Fed's recent round of large-scale asset purchases, according to an article in the Federal Reserve Bank of Kansas City's latest economic review.
The article, Expectations of Large-Scale Asset Purchases by Andrew Foerster and Guangye Cao, argues the full effect of any asset purchase programme should include both the direct effects of the announcement and the effects of expectations.
Using survey results, media reports and internet
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