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© 2016

How the Fed Moves Markets

Central Bank Analysis for the Modern Era

  • Authors

Benefits

  • QUANTITATIVE TECHNIQUE: Unlike the majority of research surrounding the Fed, this book shows how quantitative techniques for analyzing policy and efficiency projections.

  • EXPERT DATA ANALYST: Schnidman is a veteran of the professional finance world. He is the primary author of FedPlaybook.com, and writes for Bloomberg News, Seeking Alpha, Yahoo News, and Nasdaq on investor forecasting.

Book

Table of contents

  1. Front Matter
    Pages i-x
  2. Introduction

    1. Evan A. Schnidman, William D. MacMillan
      Pages 1-5
  3. Emergence and Evolution: The Story of the Fed

    1. Front Matter
      Pages 7-7
    2. Evan A. Schnidman, William D. MacMillan
      Pages 9-16
    3. Evan A. Schnidman, William D. MacMillan
      Pages 17-30
    4. Evan A. Schnidman, William D. MacMillan
      Pages 31-38
    5. Evan A. Schnidman, William D. MacMillan
      Pages 39-48
  4. Fed Watching: Sentiment Analysis and Data-Driven Investing

    1. Front Matter
      Pages 49-49
    2. Evan A. Schnidman, William D. MacMillan
      Pages 51-58
    3. Evan A. Schnidman, William D. MacMillan
      Pages 59-67
    4. Evan A. Schnidman, William D. MacMillan
      Pages 69-77
    5. Evan A. Schnidman, William D. MacMillan
      Pages 79-88
    6. Evan A. Schnidman, William D. MacMillan
      Pages 89-98
    7. Evan A. Schnidman, William D. MacMillan
      Pages 99-111
  5. Global Monetary Policy: Analyzing Central Banks around the World

    1. Front Matter
      Pages 113-113
    2. Evan A. Schnidman, William D. MacMillan
      Pages 115-125
    3. Evan A. Schnidman, William D. MacMillan
      Pages 127-136
    4. Evan A. Schnidman, William D. MacMillan
      Pages 137-146
    5. Evan A. Schnidman, William D. MacMillan
      Pages 147-157
    6. Evan A. Schnidman, William D. MacMillan
      Pages 159-181

About this book

Introduction

Central banks have a profound impact on financial markets, and investors struggle to keep informed about their complex policy decisions. Technological and financial developments have transformed the US Federal Reserve Bank from a financial black box into a vocal, increasingly transparent institution—and the result is such a wealth of textual data that clues to future policy decisions may be lost among the details.

This book presents a solution to this problem by keeping track of those details. Schnidman and MacMillan demonstrate how the latest advances in automated text analysis, combined with the precision of domain expertise, are the keys to understanding how central banks move markets with their words. The authors outline a method to not only examine every piece of every central bank communication, but to do it in a way that is completely comprehensive and unbiased while quickly yielding hard, quantitative data that can be put to work in modern financial models.

Keywords

Federal Reserve Bank European Central Bank Quantitative Monetary policy bank central bank China communication depression efficiency equity market finance financial market financial markets forecasting monetary policy monetary union research transparency

About the authors

Evan A. Schnidman and William D. MacMillan founded Prattle, a text analytics company, to showcase their novel methodology and innovative financial data on central bank communications. CEO Schnidman holds a PhD from Harvard University, USA, and has extensive experience in finance and political economy. CTO MacMillan holds a PhD from the University of Michigan, USA, and has substantial experience as both a professional statistician and a corporate data scientist.

Bibliographic information

Industry Sectors
Finance, Business & Banking