Bauer, Michael D.; Pflueger, Carolin E.; Sunderam, Adi - National Bureau of Economic Research - 2022
responds to high-frequency monetary policy surprises. Variation in the perceived rule impacts financial markets, explaining …We estimate perceptions about the Fed's monetary policy rule from micro data on professional forecasters. The perceived … rule varies significantly over time, with important consequences for monetary policy and bond markets. Over the monetary …