The Three Faces of Fed Surprise: Rate-Path, Information and Tone Shocks in the Equity Cross-section
The study decomposes Federal Reserve announcements into three orthogonal shocks and traces each through the equity cross-section, finding rate-path surprises dominate while standard balance-sheet characteristics carry no additional power beyond beta and size.
Featured in No. 134 on 9 Oct 2026 · 3 days after release
- Released
- 6 Oct 2026
- First featured
- No. 134 · 9 Oct 2026
- Published in
- Not yet, as far as Semantic Scholar knows
- Fanfare
- 4 of 5
- Identifier
- SSRN 7560218
- Authors
- Pablo De Diego Leguina
Citations and venue from Semantic Scholar (ODC-BY), refreshed weekly. Summary: Quant Letter (CC BY 4.0).