Hawkish or dovish central bankers: do different flocks matter for fiscal shocks?

This column presents evidence on the role that US monetary policy plays in how fiscal spending affects the economy.

Metadata
Provider: 
ECBECB
URL: 
https://www.ecb.europa.eu//pub/economic-research/resbull/2023/html/ecb.rb231219~159bb78c3e.en.htmlhttps://www.ecb.europa.eu//pub/economic-research/resbull/2023/html/ecb.rb231219~159bb78c3e.en.html
Retrieved on: 
Mercoledì, Gennaio 3, 2024
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Shock, Tao, FOMC, Government, Directorate, COVID, Board, University of Mannheim, Employment, Federal Reserve, Journal of Political Economy, Rotation, Federal funds rate, Federal Reserve Bank, CEPR, Nixon White House tapes, Literature, University, Oil, Federal Open Market Committee, Central bank, IMF, Bank of France, Quarterly Journal of Economics, FRB, Princeton University Press, European Central Bank, Paper, American Economic Journal, ECB, Political economy, Policy, Federal, Blinder, Classification, Hawk, GDP, Journal of Economic Perspectives, COVID-19, Growth, Fed, Systematic, Hunting
Geotags: 
NO, CENTRAL, BUSHNELL, UNITED STATES, UKRAINE, RAMEY
Sommario
Key Points: 
  • This column presents evidence on the role that US monetary policy plays in how fiscal spending affects the economy.
  • A dovish Federal Open Market Committee (FOMC) delays policy rate increases, while a hawkish FOMC tightens monetary policy more promptly, following increased fiscal spending.
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