Mind the Shift: Decoding Monetary Policy Stance from FOMC Statements with Large Language Models
Federal Open Market Committee (FOMC) statements are a major source of monetary-policy information, and even subtle changes in their wording can move global financial markets. A central task is therefore to measure the hawkish--dovish stance conveyed in these texts. Existing approaches typically treat stance detection as a standard classification problem, labeling each statement in isolation. However, the interpretation of monetary-policy communication is inherently relative: market reactions depend not only on the tone of a statement, but also on how that tone shifts across meetings. We introduce Delta-Consistent Scoring (DCS), an annotation-free framework that maps frozen large language ...
| Authors | Yixuan Tang, Yi Yang |
|---|---|
| Primary category | cs.CL |
| Published | 15 March 2026 |
| Last updated at source | 15 October 2026 |
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