This article introduces the “FedTools” Python package, providing a practical implementation of a basic Bag of Words algorithm.

The final figure. Now we can use the buttons and drop-down menu to select items and time-periods of interest. Image created by Author.

TL DR: Github Repo and FedTools package.

So, what is Fedspeak?

“Fedspeak”, otherwise known as “Greenspeak”, was initially termed by Alan Blinder to describe the “turgid dialect of English” used by Federal Reserve Board chairpeople when making vague, noncommittal or ambiguous statements. Over recent years, Federal Reserve policy communications have evolved dramatically, owing to increases in natural language processing (NLP) capabilities of Financial Institutions world over.

#federal-reserve #nlp #naturallanguageprocessing #python #bag-of-words