I'm trying to investigate the effect of a particular event on trust on presidency using survey panel data. I am using a fixed effects model with an event Dummy variable. All survey answers before an event == 0 and all survey answers after == 1. I also want to add a time dummy variable to account for trends. The time dummy variable has negative values for the days before the event, and positive values for the days after event. The value of time dummy var for the day of the event == 0. (-1 for the day before the event and so on, +1 for the day after the event and so on) Now my question is by using fixed effects model, does the time-demeaning method ruin this time dummy var?