A Comparative Textual Study of FOMC Transcripts Through Inflation Peaks

Asif M. Ruman

9 citations0/0 files storedJournal of International Financial Markets Institutions and Money

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Monetary Policy and Economic Impact Banking stability, regulation, efficiency Computational and Text Analysis Methods

Abstract

This paper examines how natural language processing algorithms, utilizing textual analysis, can aid in comprehending the decision-making process of the Federal Open Market Committee (FOMC) and the factors influencing its monetary policy decisions in periods of high inflation, specifically, Feb 1979-Dec 1986 and Feb 2018-Feb 2023. The analysis uncovers common themes such as the economy and growth, along with remarkable differences in the language used. Volcker's focus was on combating high inflation through interest rates, economic growth, and money supply, whereas Powell's focus centered on discussing inflation more than relevant policy responses such as interest rates or asset purchases. These findings suggest that unlike Powell, Volcker took high inflation as a given and concentrated on policy actions to fight inflation, which he successfully managed.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 9 citations exist upstream.

References

2022Measuring Geopolitical Risk 2004Is All That Talk Just Noise? The Information Content of Internet Stock Message Boards 2008Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence 2019Text as Data 2012Sentiment During Recessions 2009The Effect of Disclosures by Management, Analysts, and Business Press on Cost of Capital, Return Volatility, and Analyst Forecasts: A Study Using Content Analysis 2008Are Investors Influenced By How Earnings Press Releases Are Written?2017Transparency and Deliberation Within the FOMC: A Computational Linguistics Approach*

Cited by

2025What do central bankers talk about when they talk about inflation? The rise and fall of inflation narratives

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.