This study assesses the impact of financial uncertainty shocks in the US and explores the influence of monetary policy …

(conventional and unconventional) monetary policy shocks affect risk and uncertainty in three large economies: the US, euro area … stock market into a conditional variance component ("uncertainty") and a variance risk premium component (which is more … model. We then analyze monetary policy effects on risk and uncertainty. We do not find evidence that US monetary policy …

We find that macroeconomic uncertainty plays a significant role in U.S. monetary policy. First, we construct a measure … of uncertainty as felt by policymakers at the time of making their rate-setting decisions. This measure is derived from a … of being in a high-uncertainty regime. Second, we estimate a monetary policy reaction function that, apart from …

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