Generative AI can decipher FOMC minute topics – Fed research
Authors say technology could enhance public’s understanding of central banking
Generative artificial intelligence models can correctly identify topics discussed in the minutes of Federal Open Market Committee (FOMC) meetings, according to research by the Federal Reserve Board.
The study – by Wendy Dunn, Ellen Meade, Nitish Ranjan Sinha and Raakin Kabir, and published on December 6 – says the models showed “great potential” and performed the assigned task with a “high degree of accuracy and recall”.
The authors add that it is now “plausible that the public could find
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