This IEI Insight is provided by Ryan Coughlin, a Gail Werner-Robertson Fellow and author of a paper on intraday equity market reactions to macroeconomic announcements.
Markets respond to large macroeconomic announcements. How markets respond and in which direction has been the study of research for decades. When macroeconomic reports on GDP, CPI, and unemployment are released, we expect big movements. While past research has examined macroeconomic announcement effects, my recent work supervised by Dr. Ernie Goss specifically examines intraday announcement effects, especially in light of recent Federal Reserve actions.
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