FOMC Drives Global Equity Markets?
July 16, 2012 - Economic Indicators
Does anticipation of Federal Open Market Committee (FOMC) monetary policy announcements move the market? Is any such anticipation permanent? In the June 2012 revision of their paper entitled “The Pre-FOMC Announcement Drift”, David Lucca and Emanuel Moench investigate the effects of FOMC announcements on global equity markets. They focus on the U.S. stock market during the 24-hour… Keep Reading