Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/204815 
Authors: 
Year of Publication: 
2019
Series/Report no.: 
MAGKS Joint Discussion Paper Series in Economics No. 20-2019
Publisher: 
Philipps-University Marburg, School of Business and Economics, Marburg
Abstract: 
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.
Subjects: 
Federal Reserve
monetary policy
yield curve
political economy
central bank independence
Document Type: 
Working Paper

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