New York Fed: 'When Long-Run Trends Are Unknown: Bond Pricing Implications'
March 25, 2026
March 25, 2026
NEW YORK, March 25 (TNSLrpt) -- The Federal Reserve Bank of New York issued the following staff report (No. 1187) in March 2026 by Borel Ahonon and Guillaume Roussellet entitled "When Long-Run Trends Are Unknown: Bond Pricing Implications."
Here are excerpts:
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We propose a macro-finance model in which inflation, growth, and the policy rate are driven by unobservable long-run trends and transitory cycles that investors must infer from aggregat . . .
Here are excerpts:
* * *
We propose a macro-finance model in which inflation, growth, and the policy rate are driven by unobservable long-run trends and transitory cycles that investors must infer from aggregat . . .