The Federal Reserve System (FRS) has been operating the monetary policy of the U. S. since 1913. On the other hand, the European Central Bank (ECB) was established in 1998 as a result of the European monetary union that ...
This paper investigates the impact of FOMC announcements of federal funds rate c hanges on market uncertainty. For this purpose, the change in the volatility ind ex of the SandP 500 is observed on the days of announcements. ...