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Consumer inflation expectations: Daily dynamics

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  • Binder, Carola Conces
  • Campbell, Jeffrey R.
  • Ryngaert, Jane M.

Abstract

We use high frequency identification methods to study the response of consumer inflation expectations to many different types of events using data from the Federal Reserve Bank of New York’s Survey of Consumer Expectations. We identify the response of expectations to a large set of shocks, including FOMC meetings and macroeconomic data releases. We find that macroeconomic news and FOMC meetings with a press conference or rate cuts jointly move expectations.

Suggested Citation

  • Binder, Carola Conces & Campbell, Jeffrey R. & Ryngaert, Jane M., 2024. "Consumer inflation expectations: Daily dynamics," Journal of Monetary Economics, Elsevier, vol. 145(S).
    • Handle: RePEc:eee:moneco:v:145:y:2024:i:s:s0304393224000667
    DOI: 10.1016/j.jmoneco.2024.103613
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    More about this item

    Keywords

    Event study; Macroeconomic data releases; Federal reserve announcements;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E71 - Macroeconomics and Monetary Economics - - Macro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on the Macro Economy

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