Essays about: "Federal Reserve Board of Governors"

Found 1 essay containing the words Federal Reserve Board of Governors.

  1. 1. Changing Patterns over the FOMC Cycle

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Edvin Holst; Theodor Von Der Esch; [2023]
    Keywords : FOMC; Federal Reserve Board of Governors; Pre-FOMC announcement drift; Macro-announcements;

    Abstract : We document that in the period 2017 to 2022, the US stock market did not feature the same pattern of higher excess stock returns in even weeks following Federal Open Market Committee (FOMC) announcements as in the period 1994 to 2016. We show that timing of Board of Governors meetings and direction of Fed funds target rate movements affect US market returns in both periods, and connect changes in these factors to the distortion of the even-week return pattern. READ MORE