Several European countries such as Spain, Portugal, and Greece implemented austerity programs to cope with the government-debt crisis in the aftermath of the Great Recession: They increased taxes on consumption, labour, and capital and reduced government expenditures to prevent a large increase...

This paper presents market-based evidence that President Trump influences expectations about monetary policy. We use tick-by-tick fed funds futures data and a collection of Trump tweets criticizing the conduct of monetary policy and consistently advocating that the Fed lower interest rates....

This paper presents market-based evidence that President Trump influences expectations about monetary policy. We use tick-by-tick fed funds futures data and a collection of Trump tweets criticizing the conduct of monetary policy and consistently advocating that the Fed lower interest rates....

This paper presents market-based evidence that President Trump influences expectations about monetary policy. The main estimates use tick-by-tick fed funds futures data and a large collection of Trump tweets criticizing the conduct of monetary policy. These collected tweets consistently advocate...