Download This PaperStock Returns of Federal Reserve Officials
28 Pages Posted: 9 Aug 2022 Last revised: 27 Oct 2022
Date Written: August 3, 2022
Abstract
This paper examines the trading behavior of members of the Federal Reserve’s Federal Open Market Committee (FOMC). We calculate the financial market returns of FOMC members relative to the overall market and examine if there is any evidence of abnormal returns. We also test whether FOMC members exhibit evidence of market timing around FOMC meeting dates. In both cases, we find no evidence of abnormal returns.
Keywords: FOMC, Abnormal returns, Investment behavior of elected officials
JEL Classification: E58, G14, D72
Suggested Citation: Suggested Citation
Couture, Cody and Smit, Abhiprerna, Stock Returns of Federal Reserve Officials (August 3, 2022). Available at SSRN: https://ssrn.com/abstract=4180986 or http://dx.doi.org/10.2139/ssrn.4180986
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