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novel database for 268 professional forecasters since 1999, the average forecast error of FOMC decisions varies 5 to 10 … financial market volatility after FOMC meetings. Finally, Fed communication may exert an influence on forecast accuracy. …
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Sentiment analysis is applied to the Federal Reserve's documents relating to the Federal Open Market Committee (FOMC …, and is used to estimate the sentiment of the Beige Book and FOMC statements and minutes. Results show that, under … Greenspan's tenure, the sentiment of the Beige Book anticipated the sentiment of the FOMC minutes while, during the Bernanke era …
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