We just completed a first, preliminary draft of a new paper:

𝐓𝐡𝐞 𝐌𝐚𝐜𝐫𝐨𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐄𝐟𝐟𝐞𝐜𝐭𝐬 𝐨𝐟 𝐁𝐚𝐧𝐤 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧: 𝐍𝐞𝐰 𝐄𝐯𝐢𝐝𝐞𝐧𝐜𝐞 𝐟𝐫𝐨𝐦 𝐚 𝐇𝐢𝐠𝐡-𝐅𝐫𝐞𝐪𝐮𝐞𝐧𝐜𝐲 𝐀𝐩𝐩𝐫𝐨𝐚𝐜𝐡

Joint with Ko Miura

econweb.umd.edu/~drechsel/pa...

Key figure from my #ASSA2025 talk below

How often did US Presidents meet with Federal Reserve officials?

Figure shows large variation, e.g.
Clinton: 6x
Nixon: 160x

In the paper, I combine this new data with a narrative approach to gauge the economic effects of political pressure on the Fed

At the AEA meetings in San Francisco?

Check out this nice session on Friday morning: "Identifying Monetary Policy"

With presentations by Amy Handlan @michaeldbauer.bsky.social @kronerniklas.bsky.social myself and Philippe Andrade

Thank you Philippe for organizing! #ASSA2025

We recently posted a new version of our paper

"Identifying Monetary Policy Shocks: A Natural
Language Approach" - with Boragan Aruoba

We use natural language processing techniques to identify monetary policy shocks!

Paper available here: econweb.umd.edu/~drechsel/pa...