Journal Article
Financial Markets’ Perceptions of the FOMC’s Data-Dependent Monetary Policy
Healy, Christopher; Jia, Chengcheng (2024-02-21)
Over the past ten years, the Federal Open Market Committee (FOMC) has repeatedly emphasized that future policy is data dependent. In this Economic Commentary, we investigate how financial markets expected future interest rates to change with the release of new data on inflation and labor market conditions. We find that the surprises in economic indicators have a stronger effect on the 2-year Treasury yield than on the expected federal funds rate to be set in the next FOMC meeting. This implies that markets understand that under the data-dependent approach, policy decisions do not heavily rely ...
Economic Commentary , Volume 2024 , Issue 03 , Pages 5

Speech
Opening remarks at the Economic Press Briefing on the U.S. Economy in a Snapshot, Federal Reserve Bank of New York, New York City, May 2016.
Dudley, William (2016-05-19)
Remarks at the Economic Press Briefing on the U.S. Economy in a Snapshot, Federal Reserve Bank of New York, New York City.
Speech , Paper 212