Welche volkswirtschaftlichen Folgen hat politischer Druck auf Zentralbanken? Darüber habe ich mit Dr. Daniel Stelter in seinem sehr interessanten Podcast gesprochen. Meine Studie zum Thema ist hier verfügbar: econweb.umd.edu/~drechsel/pape…

Donald Trump warns US Fed chair not to cut rates before the election ft.com/content/11bc93… via @ft

This new NBER working paper by Liebersohn and Rothstein looks important: When interest rates go up, homeowners with fixed rate mortgages become less geographically mobile, holding on to their low rate mortgages nber.org/papers/w32781?…

Trump in today’s press conference: He reiterated that in his view the President should have a say in setting interest rates He also talked about Powell specifically, saying “I fought him very hard”

Kamala Harris reacts to Donalds Trump's recent comments about the Fed. Harris: "... as president, I would never interfere in the decisions that the Fed makes."

Interesting paper by Altavilla, Gürkaynak & Quadvlieg, forthcoming in the JME: Variation in the external finance premia of Euro Area firms: ~ 50% comovement with the country sovereign spread ~ 50% attributed to variability at bank and firm levels sciencedirect.com/science/articl…

New version out of this very useful overview paper by Laura Castillo-Martinez and Ricardo Reis "How do central banks control inflation? A guide for the perplexed" personal.lse.ac.uk/reisr/papers/9…

The correct link for the new version (July 2024) is this one: lse.ac.uk/CFM/assets/pdf… Abstract below:

"JD Vance has endorsed former President Donald Trump’s call for the White House to have 'a say' over the Federal Reserve’s interest rate policies" apnews.com/article/trump-… via The Associated Press Chris Rugaber

The academic job market… one thousand years ago! Interesting paper just published in JEEA eeassoc.us7.list-manage.com/track/click?u=…

The calm before the storm (start of the semester) Univ. of Maryland

Very excited about this. Go Gators! 🐊

Are you interested in learning about macroeconomic models with financial frictions? I make the full course material for my PhD class on this topic available here: econweb.umd.edu/~drechsel/teac… Happy semester start from Univ. of Maryland

The October issue of the JME is out Happy to see our paper 𝐌𝐚𝐜𝐫𝐨𝐩𝐫𝐮𝐝𝐞𝐧𝐭𝐢𝐚𝐥 𝐏𝐨𝐥𝐢𝐜𝐲 𝐰𝐢𝐭𝐡 𝐄𝐚𝐫𝐧𝐢𝐧𝐠𝐬-𝐁𝐚𝐬𝐞𝐝 𝐁𝐨𝐫𝐫𝐨𝐰𝐢𝐧𝐠 𝐂𝐨𝐧𝐬𝐭𝐫𝐚𝐢𝐧𝐭𝐬 published there! This is joint work with my great coauthor Seho Kim sciencedirect.com/science/articl…

New @VoxEU piece about our paper “The long and variable lags of monetary policy: Evidence from disaggregated price indeces” Punchline: after a Fed tightening, it is only at long horizons that price declines are broad-based across expenditure categories cepr.org/voxeu/columns/…