This paper tests a version of the rational expectations hypothesis using 'fixed-event' inflation forecasts for the UK … rolling event data. The results show evidence of a positive bias in inflation expectations. Evidence for inefficiency is much …

We document that, during the COVID-19 era, the inflation expectations of Democrats remained strongly anchored, while … those of Republicans did not. Republicans' expectations not only rose well above the inflation target, but also became more … affiliation at the MSA level to show that the partial de-anchoring of expectations had implications for realized inflation …