Trump Pressuring the Fed

Trump Pressuring the Fed

After appointing Federal Reserve Chairman Powell, President Trump steadily put pressure on the Fed to cut interest rates. We show that, on average, a statement from Trump led to lower long-term interest rates, consistent with expectations of lower expected future short rates. However, the impact...

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Veröffentlicht in:MAGKS - Joint Discussion Paper Series in Economics (Band 20-2019)
1. Verfasser: Tillmann, Peter
Format: Artikel
Sprache:Englisch
Veröffentlicht: Philipps-Universität Marburg 2019
Schlagworte:
monetary policy
Wirtschaft
Federal Reserve
political economy
yield curve
central bank independence
Economics
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Beschreibung
Zusammenfassung:After appointing Federal Reserve Chairman Powell, President Trump steadily put pressure on the Fed to cut interest rates. We show that, on average, a statement from Trump led to lower long-term interest rates, consistent with expectations of lower expected future short rates. However, the impact of Trump's statements declined over time.
Umfang:8 Seiten
ISSN:1867-3678
DOI:10.17192/es2024.0615

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