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 …

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 …

Policymakers at the Federal Open Market Committee (FOMC) publish macroeconomic forecasts since 1979. Some studies find …. In this paper, we examine the value of publishing these FOMC forecasts in two steps. We assess whether they influence … private forecasts and whether they may be considered as a policy instrument. We provide original evidence that FOMC forecasts …

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 …