Journal Article
Interest Rate Forecasts in Conventional and Unconventional Monetary Policy Periods
Abstract: Monetary policy has been conducted with a different set of tools since the fi nancial crisis, and we investigate whether the change has affected the accuracy of professionals? interest-rate forecasts. We analyze the accuracy of federal funds rate and nominal Treasury yield forecasts in the periods before and after the introduction of new policy tools and find that,in general, forecast accuracy improved in the latter policy period.
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https://doi.org/10.26509/frbc-ec-201505
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2015
Issue: May
Order Number: 5