Discussion paper

DP19011 Consumer Inflation Expectations: Daily Dynamics

We use high frequency identification methods to study the response of consumer inflation expectations to many different types of events using data from the Federal Reserve Bank of New York's Survey of Consumer Expectations. We identify the response of expectations to a large set of shocks, including FOMC meetings and macroeconomic data releases. We find that and macroeconomic news and FOMC meetings with a press conference or rate cuts jointly move expectations.


Binder, C, J Campbell and J Ryngaert (2024), ‘DP19011 Consumer Inflation Expectations: Daily Dynamics‘, CEPR Discussion Paper No. 19011. CEPR Press, Paris & London. https://cepr.org/publications/dp19011