Journal of Monetary Economics 2019 DOI: 10.1016/j.jmoneco.2019.08.014 View full text
Michael J. Lamla, Dmitri V. Vinogradov

Abstract: Little is known on how and whether central bank announcements aect consumers' beliefs about policy relevant economic gures. This paper focuses on consumers' perceptions and expectations of ination and interest rates and condence therein. Based on a sound identication (running surveys shortly before and after communication events), and relying on above 15 000 observations, spanning over 12 FOMC press conferences between December 2015 and June 2018, we document the impact of the central bank communication on ord…

expand abstract