... Monetary Policy Surprises and Interest Rates: Evidence from the Fed Funds Futures Market Abstract This paper estimates the impact of monetary policy actions on bill, note, and bond yields, ... with the effects of Fed policy on bond prices And because the first link in the transmission of Federal Reserve policy is from the Fed funds target to other interest rates, the issue is an important ... Kenneth N 1996 The Fed Funds Futures Rate as a Predictor of Federal Reserve Policy Journal of Futures Markets, 16(8), 865–879 Mehra, Yash P 1996 Monetary Policy and Long-Term Interest Rates Federal...