Descriptions
Letting the Data Speak: Global Spillovers from Data-Dependent Federal Reserve Monetary Policy.
The upcoming US Federal Reserve (Fed) easing cycle remains uncertain and dependent on incoming data. While it is well recognized that the Fed's decisions are highly data-dependent, the effects of data-driven US monetary policy changes remain unexplored. Traditionally, research has focused on market reactions to Fed meetings, but this chapter shows that significant market effects occur around key data releases, as investors anticipate their influence on Fed policy. This chapter investigates the reaction of key financial variables to data-driven US monetary policy actions across a large sample of 108 economies. The analysis specifically targets the spillover effects that arise around the time of US data releases, particularly those related to inflation and employment.
Speaker: Gabriele Ciminelli, ADB
His expertise lies in economic policy analysis, macroeconomic forecasting and economic research. His research spans a range of topics, including fiscal policy, international finance, structural reforms, labor markets, and political economy, and has been published in leading academic journals. Before joining ADB, Gabriele held positions at the IMF, the OECD, and the Asia School of Business. Gabriele holds a Ph.D. in Economics from Tinbergen Institute and the University of Amsterdam and an M.A. in International Relations from Bologna University.
