Papers › FedNLP: An interpretable NLP System to Decode Federal Reserve Communications

FedNLP: An interpretable NLP System to Decode Federal Reserve Communications

11 Jun 2021arXiv:2106.06247archive 2025-07-28

Jean Lee, Hoyoul Luis Youn, Nicholas Stevens, Josiah Poon, Soyeon Caren Han

The Federal Reserve System (the Fed) plays a significant role in affecting monetary policy and financial conditions worldwide. Although it is important to analyse the Fed's communications to extract useful information, it is generally long-form and complex due to the ambiguous and esoteric nature of content. In this paper, we present FedNLP, an interpretable multi-component Natural Language Processing system to decode Federal Reserve communications. This system is designed for end-users to explore how NLP techniques can assist their holistic understanding of the Fed's communications with NO coding. Behind the scenes, FedNLP uses multiple NLP models from traditional machine learning algorithms to deep neural network architectures in each downstream task. The demonstration shows multiple results at once including sentiment analysis, summary of the document, prediction of the Federal Funds Rate movement and visualization for interpreting the prediction model's result.

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Sentiment AnalysisText Classification

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