Federal Reserve Bank of San Francisco: 'Not All Inflation Is the Same: State-Dependent Transmission of Monetary Policy'
December 09, 2025
December 09, 2025
SAN FRANCISCO, California, Dec. 9 (TNSLrpt) -- The Federal Reserve Bank of San Francisco issued the following white paper (No. 2025-28) on November 24, 2025, by Rami Najjar and Adam Shapiro entitled "Not All Inflation Is the Same: State-Dependent Transmission of Monetary Policy."
Here are excerpts:
* * *
We show that the underlying source of inflation impacts financial market perceptions of the persistence of monetary policy tightening. Investors . . .
Here are excerpts:
* * *
We show that the underlying source of inflation impacts financial market perceptions of the persistence of monetary policy tightening. Investors . . .