The reaction of interest rates to the employment report: the role of policy anticipations
Interest rates have reacted strongly to the monthly employment report in recent years. The authors document the reaction of rates to the report and provide evidence that it has been stronger since the mid-1980s than in earlier years. Evidently the report now has greater impact than formerly on expectations of where the Fed is going to move the federal funds rate. These expectations influence longer-term money market rates.
Volume (Year): (1991)
Issue (Month): Sep ()
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- Falk, Barry & Orazem, Peter F, 1985.
"The Money Supply Announcements Puzzle: Comment,"
American Economic Review,
American Economic Association, vol. 75(3), pages 562-64, June.
- Gerald P. Dwyer & R. W. Hafer, 1989. "Interest rates and economic announcements," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 34-46.
- Hardouvelis, Gikas A., 1988. "Economic news, exchange rates and interest rates," Journal of International Money and Finance, Elsevier, vol. 7(1), pages 23-35, March.
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