Mining Fed Statements

In this notebook we scrape FOMC statements and minutes from FOMC meetings to find specific words. As usual, this is purely illustrative of what Python can do when it comes to text mining. Professor Amy Handlan who just joined Brown University shows in her job market paper how this general type of tools combined with machine learning techniques can be used to measure the stance of monetary policy.

This was pure brute force. Now we use BeautifulSoup to only extract the specific part of the HTML mumbo jumbo we need first to limit the risk of a miscount.

Now, out of curiousity, what if we mine the entire minutes?