development of bank lending in the U.S. after four large jumps in uncertainty using an event study approach. We find that more … liquid banks slow down lending less after a surge in uncertainty. Lending by smaller banks is also less responsive to … increases in uncertainty, which points to an increased importance of bank-customer relationships. The heterogeneity across banks …

We investigate the relationship between inflation uncertainty and monetary policy transmission in the U.S. economy … uncertainty and contributes to the reduced policy effectiveness. …