Archive for the ‘The Fed’ Category

September 7, 2011, Federal Reserve Beige Book report

Wednesday, September 7th, 2011

The Beige Book is a report on economic activity in all 12 Federal Reserve districts. It’s all a narrative, so there are no charts and graphs to go with it. That makes Wordle a good way to look at the report.

Here it is with none of the district names removed from the Word cloud.

And here it is with the district names removed. Larger words show up more often in the report; smaller, less frequent. Of note, “hurricane,” “irene,” “weather,” and “Japanese” show up in the report (circled.)



Minutes of August 9 FOMC meeting

Tuesday, August 30th, 2011

This was the meeting where the Federal Open Markets Committee virtually locked in 0-0.25% interest rates through 2013. Apparently, there was quite a bit of discussion, with much of it tilted toward more aggressive monetary policy. Here’s the Wordle cloud of the minutes. One of the most common words (larger words represent more frequently used words) used in many of the minutes is “inflation,” and it almost seems used because committee members fear most its opposite, deflation, which is curious by its absence. (Click for a bigger version.)


Gee, I guess the market didn’t like what the Fed said

Tuesday, August 9th, 2011


March 15 FOMC Statement via Wordle

Thursday, March 17th, 2011

This might be the best Wordle result yet.  To use Wordle, you paste a bunch of text into its Wordle generator.  Based on how frequently words occur in the text, those words are emphasized.  You can try it yourself at  Here is the FOMC’s March 15 statement.