Here is the link of my blog.
https://macrotazza.wordpress.com/2021/10/04/n-gram-analysis-on-fomc-minutes/
The purpose of this project is to visualize factors that are addressed the most by Federal Reserve from the year 2016 to 2021. FOMC minutes is released two weeks after the official statement. FOMC minutes is considered as a lagging indicator, where it is used to confirm long-term trends rather than for prediction.
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Scrap FOMC minutes from the year 2016 to 2021.
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Clean up FOMC minutes text into JSON format.
Headers of file are following:
- 'Developments in Financial Markets and Open Market Operations'
- 'Staff Review of the Economic Situation'
- 'Staff Review of the Financial Situation'
- 'Staff Economic Outlook'
- "Participants' Views on Current Economic Conditions and the Economic Outlook"
- 'Committee Policy Action'
- Extract monogram, bigram and trigram on the text sets.
- Developments in Financial Market section is removed due to the fact that it does not contain any opinions of policymakers.
- Committee Policy Action section is removed from the process because it is the duplicate of FOMC statement.
- Display 20 most frequently addressed bigrams and trigrams of full texts
- Display 8 most frequently addresed bigrams and trigrams of sections.
- Sample charts of the July 2021 FOMC minutes
- Extract monogram, bigram and trigram from the year 2016 to 2021.
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Display the top 5 most frequently addressed bigrams and triagrms in yearly basis.
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Sample charts of the year 2020.
- Monogram, Bigram and Trigram extractions from 2016 to 2021 by sections.
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Display the top 5 most frequently addressed bigrams and trigrams of four different section of the text.
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Smaple charts of the year 2020.
