Journal Article
Understanding Hawks and Doves
Abstract: How do hawks and doves on the Federal Open Market Committee differ in their views of appropriate monetary policy and their related projections for inflation and unemployment? We find that hawks project higher inflation despite building tighter policy paths into their projections. Doves project lower inflation despite having easier policy paths, although their projections are somewhat closer to the median. In addition, hawks see a steeper inflation-unemployment tradeoff than doves up to a one-year horizon.
JEL Classification: E52;
Access Documents
File(s):
File format is application/pdf
https://www.kansascityfed.org/documents/5622/macrobulletins-Understanding%20Hawks%20and%20Doves.pdf
Description: Full text
Authors
Bibliographic Information
Provider: Federal Reserve Bank of Kansas City
Part of Series: Macro Bulletin
Publication Date: 2018-06-27
Issue: June 27, 2018
Pages: 1-4