inflation) account for 80% of short-rate forecast error variance, with more than half of that number attributed to the Fed … easing more aggressively than the public expected. Short-rate forecast errors induce ex post predictability of excess returns …

We test the implications of anchoring bias associated with forecast earnings per share (FEPS) for forecast errors … more positive forecast revisions, more negative forecast errors, and more negative earnings surprises after a stock split …