Residual Seasonality and Monetary Policy
Document Type
Blog Post
Publication Date
8-24-2015
Publisher
Federal Reserve Bank of San Francisco
Language
en-US
Abstract
Much recent discussion has suggested that the official real GDP data are inadequately adjusted for recurring seasonal fluctuations. A similar pattern of insufficient seasonal adjustment also affects the published data for a key measure of price inflation. Still, such residual seasonality in the published output and inflation statistics is unlikely to mislead Federal Reserve policymakers or adversely affect the setting of monetary policy.
Recommended Citation
Glenn D. Rudebusch, Daniel J. Wilson & Benjamin D. Pyle,
Residual Seasonality and Monetary Policy
,
in
2015
FRBSF Economic Letters
(2015).
Available at:
https://scholarship.law.bu.edu/shorter_works/236
Publisher URL
https://www.frbsf.org/economic-research/publications/economic-letter/2015/august/residual-seasonality-and-monetary-policy/
