Lange, Joe; Sack, Brian; Whitesell, William - In: Journal of Money, Credit and Banking 35 (2003) 6, pp. 889-909
In recent years, financial markets appear better able to anticipate Federal Open Market Committee (FOMC) policy changes. Beginning in the late 1980s and early 1990s, longer-term interest rates and futures rates have tended to incorporate movements in the federal funds rate several months in...