Survey Measures of Expectations for the Policy Rate
Abstract: Market prices provide timely information on policy expectations. But as we emphasized in our previous post, they can deviate from investors? expectations of the most likely path because they embed risk premiums and represent probability-weighted averages over different possible paths. In contrast, surveys explicitly ask respondents for their views on the likely path of economic variables. In this post, we highlight two surveys conducted by the Federal Reserve Bank of New York that provide information about expectations that can complement market-based measures.
JEL Classification: E5;G1;
File(s): File format is text/html https://libertystreeteconomics.newyorkfed.org/2014/12/survey-measures-of-expectations-for-the-policy-rate.html
Provider: Federal Reserve Bank of New York
Part of Series: Liberty Street Economics
Publication Date: 2014-12-05