The sentiment conveyed by US Federal Reserve policymakers appears to have an impact on outcomes in the real economy, according to a staff working paper published today (February 17) by the Bank of England.
The work – by economists Paul Hubert and Fabien Labondance, both of whom are affiliated with Sciences Po – harnesses "computational linguistics" to extract the sentiment from statements by Federal Open Market Committee (FOMC) members, filtering out information on fundamentals, expectations, mo
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