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Using Generative AI Models to Understand FOMC Monetary Policy Discussions

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Abstract

In an era increasingly shaped by artificial intelligence (AI), the public’s understanding of economic policy may be filtered through the lens of generative AI models (also called large language models or LLMs). Generative AI models offer the promise of quickly ingesting and interpreting large amounts of textual information.

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  • Wendy E. Dunn & Raakin Kabir & Ellen E. Meade & Nitish R. Sinha, 2024. "Using Generative AI Models to Understand FOMC Monetary Policy Discussions," FEDS Notes 2024-12-06-1, Board of Governors of the Federal Reserve System (U.S.).
    • Handle: RePEc:fip:fedgfn:2024-12-06-1
    DOI: 10.17016/2380-7172.3678
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