ORLANDO, Florida, Aug 16 (Reuters) - Investors are hoping policymakers gathering at the Kansas City Fed's annual Jackson Hole Symposium later this month will shed light on one of the murkiest - yet fundamentally most important - tenets of monetary policy: R-star.
Even the New York Fed's two most renowned R-star indicators, the Laubach-Williams model and the Holston-Laubach-Williams model, are, metaphorically speaking, miles apart.
Martínez-García's estimate of short-term R-star is negative, while the New York Fed staffers' models suggest it has "increased considerably over the past year".
The Fed is near the end of its tightening cycle having raised interest rates by 525 basis points to the highest since 2007.
Longer-dated real bond yields have shot up to their highest level since 2009 even as market expectations for inflation and Fed rates have held steady.
Persons:
Treasuries, Gennadiy Goldberg, Goldberg, Williams, Enrique Martínez, García, Goldman Sachs, JP Morgan, David Mericle, Jackson, John Williams reckons, Jamie McGeever
Organizations:
Kansas City Fed's, Fed, New, Dallas Fed, TD Securities, York, Dallas and New York Fed, New York Fed, Citi, Reuters, New York Times, Atlanta, Thomson
Locations:
ORLANDO, Florida, New York, U.S, Dallas