proposition in the context of FOMC policy decisions over the past 20 years using publicly available FOMC projections from the … biannual monetary policy reports to the Congress (Humphrey-Hawkins reports). Our results indicate that FOMC decisions can … indeed be predominantly explained in terms of the FOMC's own projections rather than observed outcomes. Thus, a forecast …

Does global currency volume increase on days when the Federal Open Market Committee (FOMC) meets? To test the … hypothesis of excess currency volume on FOMC days, we use a novel data set from the Continuous Linked Settlement (CLS) Bank. The … that trading volume increases in the order of 5% across currency areas on FOMC days during 2003 to 2007. This result holds …

In this paper we estimate ideal points of Bank Presidents and Board Governors at the FOMC. We use stated preferences … from FOMC transcipts and estimate a hierarchical spatial voting model. We find a clear difference between the average Board … point at the FOMC has been fairly stable over our sample period (1989-2007) emphasizing the lack of a political appointment …

exclusively upon contemporaneous sources, including the recently released transcripts of Federal Open Market Committee (FOMC …) meetings during 1979. We then present and discuss in detail the reasons for the FOMC’s adoption of the reform and the … inflation targeting. The record suggests that the reform was adopted when the FOMC became convinced that its earlier gradualist …