Welcome Research Experience Code CV
I am an Economist at the Federal Reserve Bank of Kansas City. In that role,
I serve Esther George and Jon Willis in the policymaking process and conduct research on the macroeconomy.
This site provides details on my current research. My current work examines the effects of central bank forward guidance on the macroeconomy.
My FRB-KC Webpage
August 2017 Posted an updated version of my work The Dynamic Effects of Forward Guidance Shocks (with A. Lee Smith). We argue that forward guidance shocks which lower the expected path of policy stimulate economic activity and prices. A standard model of monetary policy can largely reproduce these results.
July 2017 Posted a new paper Forward Guidance, Monetary Policy Uncertainty, and the Term Premium (with Trenton Herriford and A. Lee Smith). We show that forward guidance about future monetary policy can materially affect term premia in bond markets, even without large-scale asset purchases.
June 2017 Completed a new paper, How Do FOMC Projections Affect Policy Uncertainty? (with Trenton Herriford). We show that interest-rate uncertainty declined after the introduction of policy projections by FOMC participants. Moreover, we show that changes in policymaker disagreement can help explain movements in interest-rate uncertainty around FOMC meetings.
The views expressed herein are my own and do not represent the Federal Reserve Bank of Kansas City or the Federal Reserve System.