Jackson Hole annual meeting report: Inflation may have a greater impact on the market after interest rate hikes
2024-08-24 14:47:49
On August 24th, according to Jin Ten, a report by Michael Bauer, Carolin Pflueger and Adi Sunderam at the Jackson Hole annual meeting said that it was only after the Federal Reserve started its interest rate hike cycle in 2022 that the bond market became more sensitive to inflation data. This means that the public does not understand the [monetary policy] strategy before the FOMC hikes. "Consistent with the shift in perceived policy responses, event studies show that interest rates become significantly more sensitive to inflation data surprises after hikes. The increase in perceived inflation responses may have helped the transmission of monetary policy to the real economy and improved the Fed's inflation-unemployment trade-off,"
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