Trenton Herriford

Graduate Student

The University of Texas at Austin


trenton.herriford@utexas.edu

Google Scholar, IDEAS

Working Papers

"Forward Guidance, Monetary Policy Uncertainty, and the Term Premium"

(with Brent Bundick and A. Lee Smith)

Federal Reserve Bank of Kansas City RWP 17-07, July 2017, updated Feb. 2021

Forward guidance about future monetary policy can lower term premia in bond markets, even without large-scale asset purchases.

Appendix

Publications

"How Do FOMC Projections Affect Policy Uncertainty?"

(with Brent Bundick)

Federal Reserve Bank of Kansas City Economic Review 102(2), Second Quarter 2017

Measures of uncertainty fell after the FOMC began releasing its interest rate projections; however, uncertainty is significantly correlated with disagreement across participants’ projections.