Fed’s forward guidance has significant bond yield impact – DNB paper

federal-reserve
The Federal Reserve

The Federal Reserve’s forward guidance has had a significant effect on US government bond yields whilst not harming its own monetary policy credibility„ a working paper published by the Netherlands Bank finds.

In Effects of Fed policy rate forecasts on real yields and inflation expectations at the zero lower bound, Gabriele Galati and Richhild Moessner examine the Fed’s own policy rate forecasts in its Summary of Economic Projections (SEP).

The authors look at what effect surprises in these

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: