Graph and download economic data for FOMC Summary of Economic Projections for the Fed Funds Rate, Median (FEDTARMD) from 2025 to 2027 about projection, federal, median, rate, and USA.

This dataset contains the textual data of Federal Reserve Federal Open Market Committee (FOMC) meeting statements and minutes. Its purpose is to provide a historical archive of communications from the US central bank, offering valuable context and insights into monetary policy decisions and economic outlooks over time. The dataset is regularly updated, ensuring access to the latest official communications.

Columns

• Date: This column specifies the date of the actual FOMC meeting.
• Release Date: This indicates when the statement or minutes were officially released to the public. It is important to note that minutes are typically released with approximately a three-week lag from the meeting date.
• Type: This column categorises the communication, distinguishing between a formal 'statement' and the more detailed 'minutes' of the meeting.
• Text: This contains the full textual content of each communication release, whether it is a statement or minutes.

Distribution

The dataset is typically provided in a CSV (Comma Separated Values) format. It includes communications from 2 February 2000 to 18 June 2025. The file is updated on a weekly basis with new data sourced directly from the Federal Reserve website. Based on available information, there are approximately 420 records within the specified date range. The dataset comprises roughly 52% minutes and 48% statements.

Usage

This dataset is ideal for various applications and use cases, particularly within finance, banking, and economics. It can be used for: * Natural Language Processing (NLP) tasks, such as sentiment analysis or topic modelling on central bank communications. * Economic research to analyse policy shifts, communication strategies, and their impact on financial markets. * Financial modelling and forecasting, by integrating insights from official monetary policy communications. * Academic studies on central banking, macroeconomic policy, and financial history.

Coverage

The dataset covers the period from 2 February 2000 to 18 June 2025, providing an extensive historical record of FOMC communications. While the content focuses on US monetary policy, which is inherently US-centric, the dataset's availability is global, making it accessible to users worldwide. There are no specific notes on data availability for certain demographic groups or years, as the data represents official public releases.

License

CC0

Who Can Use It

This dataset is designed for a wide range of users, including: * Financial analysts and economists seeking to understand and forecast monetary policy decisions. * Data scientists and machine learning engineers developing NLP models for financial text. * Academic researchers in economics, finance, and political science studying central bank behaviour and communication. * Government policy advisors interested in historical policy decisions and their effects. * Journalists and media professionals reporting on economic and financial news.

Dataset Name Suggestions

• Federal Reserve FOMC Communications Archive
• US Monetary Policy Statements and Minutes
• Central Bank Economic Communications
• FOMC Historical Document Collection

Attributes

Original Data Source: FOMC Meeting Statements & Minutes

This dataset contains the textual data of Federal Reserve FOMC meetings statements and minutes.

Column description

• Date - Date of the FOMC meeting.
• Release Date - Release date of the statement/minutes. Note that minutes are usually released with a ~3 week lag from the meeting date.
• Type - Communication type, either a statement or minutes.
• Text - The text content of each communication release.

Update schedule

This dataset is updated on a weekly basis with new data sourced from the Federal Reserve website.

Graph and download economic data for Federal Funds Target Range - Upper Limit (DFEDTARU) from 2008-12-16 to 2025-07-14 about federal, interest rate, interest, rate, and USA.

The benchmark interest rate in the United States was last recorded at 4.50 percent. This dataset provides the latest reported value for - United States Fed Funds Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

This dataset contains text from Federal Reserve FOMC (Federal Open Market Committee) meeting minutes and statements. It was collected by scraping the Federal Reserve's official website. The dataset provides insights into the central bank's monetary policy decisions and discussions, spanning a specific period of time.

Columns

• Date: The date of the FOMC meeting or statement release, provided in the YYYYMMDD format.
• Type: An indicator for the document type. A value of '0' signifies a statement, while '1' indicates meeting minutes.
• Text: The actual text content of each paragraph from the meeting minutes or statements.

Distribution

The dataset is typically provided in CSV file format. While specific total row or record counts are not detailed, the data contains a substantial volume of text from numerous documents across various dates.

Usage

This dataset is ideal for various analytical and research purposes, including: * Analysing the sentiment and tone of FOMC meeting minutes and statements over time. * Identifying key phrases and words that signify shifts in monetary policy. * Developing natural language processing (NLP) models to forecast future policy decisions based on historical data. * Investigating the relationship between FOMC meeting minutes/statements and financial market reactions.

Coverage

The dataset primarily covers the activities and discussions of the Federal Reserve's Federal Open Market Committee, making its scope relevant to US economic and financial policy. The data spans a specific, extended period of time, though precise start and end dates are not explicitly detailed in the general description. The listing indicates a global region for the dataset's availability.

License

CCO

Who Can Use It

This dataset is particularly valuable for: * Economists and financial analysts studying central bank policy and its impact. * Data scientists and NLP practitioners looking to build models based on financial text data. * Academic researchers investigating monetary policy, economic trends, and financial markets. * Journalists reporting on central banking and economic policy.

Dataset Name Suggestions

• Federal Reserve FOMC Documents
• US Monetary Policy Texts
• FOMC Meeting & Statement Archive
• Federal Reserve Policy Transcripts
• Central Bank Monetary Data

Attributes

Original Data Source: Federal Reserve FOMC Minutes & Statements Dataset

United States - FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Range, Midpoint was 1.55000 Fourth Qtr. to Fourth Qtr. % Chg. in January of 2027, according to the United States Federal Reserve. Historically, United States - FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Range, Midpoint reached a record high of 5.55000 in January of 2021 and a record low of -2.15000 in January of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - FOMC Summary of Economic Projections for the Growth Rate of Real Gross Domestic Product, Range, Midpoint - last updated from the United States Federal Reserve on July of 2025.

FOMC Meeting Policy Statements Dataset (Year 2000+, updated monthly)

  Overview

This dataset contains the policy statements released by the Federal Open Market Committee (FOMC) following each of its meetings from year 2000 onwords. The FOMC, a component of the U.S. Federal Reserve System, determines monetary policy in the United States. The statements provide insights into the committee’s policy decisions, economic outlook, and forward guidance.

  Background on Policy… See the full description on the dataset page: https://huggingface.co/datasets/Coding-Fish/fomc-statements.

The inflation rate in the United States declined significantly between June 2022 and May 2025, despite rising inflationary pressures towards the end of 2024. The peak inflation rate was recorded in June 2022, at *** percent. In August 2023, the Federal Reserve's interest rate hit its highest level during the observed period, at **** percent, and remained unchanged until September 2024, when the Federal Reserve implemented its first rate cut since September 2021. By January 2025, the rate dropped to **** percent, signalling a shift in monetary policy. What is the Federal Reserve interest rate? The Federal Reserve interest rate, or the federal funds rate, is the rate at which banks and credit unions lend to and borrow from each other. It is one of the Federal Reserve's key tools for maintaining strong employment rates, stable prices, and reasonable interest rates. The rate is determined by the Federal Reserve and adjusted eight times a year, though it can be changed through emergency meetings during times of crisis. The Fed doesn't directly control the interest rate but sets a target rate. It then uses open market operations to influence rates toward this target. Ways of measuring inflation Inflation is typically measured using several methods, with the most common being the Consumer Price Index (CPI). The CPI tracks the price of a fixed basket of goods and services over time, providing a measure of the price changes consumers face. At the end of 2023, the CPI in the United States was ****** percent, up from ****** a year earlier. A more business-focused measure is the producer price index (PPI), which represents the costs of firms.

United States - FOMC Summary of Economic Projections for the Fed Funds Rate, Range, Midpoint was 3.25% in January of 2027, according to the United States Federal Reserve. Historically, United States - FOMC Summary of Economic Projections for the Fed Funds Rate, Range, Midpoint reached a record high of 5.40 in January of 2023 and a record low of 0.10 in January of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - FOMC Summary of Economic Projections for the Fed Funds Rate, Range, Midpoint - last updated from the United States Federal Reserve on June of 2025.

In January 2000, the Federal Open Market Committee (FOMC) instituted the practice of issuing a "balance of risks" statement along with their policy decision immediately following each FOMC meeting. The authors evaluate the use of the balance-of-risks statement and the market's interpretation of it. They find that the balance-of-risks statement is one of the factors that market participants use to determine the likelihood that the FOMC will adjust its target for the federal funds rate at their next meeting. Moreover, they find that, on some occasions, the FOMC behaved in such a way as to encourage the use of the balance-of-risks statement for this purpose. The clarifying statements that sometimes accompany these balance-of-risks statements, as well as general remarks made by the Chairman and other FOMC members, often provide additional useful information.

Graph and download economic data for CSBS Community Bank Sentiment, Monetary Policy Index (CBSIMP) from Q2 2019 to Q2 2025 about community, business sentiment, banks, depository institutions, indexes, and USA.

The Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) surveys up to 80 large domestic banks and 24 U.S. branches and agencies of foreign banks. The Federal Reserve generally conducts the survey quarterly, timing it so that results are available for the January/February, April/May, August, and October/November meetings of the Federal Open Market Committee (FOMC). The Federal Reserve occasionally conducts one or two additional surveys during the year. Questions cover changes in the standards and terms of the banks' lending and the state of business and household demand for loans. The survey often includes questions on other topics of current interest. The survey results are released on Mondays after the FOMC meeting.

The Senior Loan Officer Opinion Survey on Bank Lending Practices (SLOOS) surveys up to 80 large domestic banks and 24 U.S. branches and agencies of foreign banks. The Federal Reserve generally conducts the survey quarterly, timing it so that results are available for the January/February, April/May, August, and October/November meetings of the Federal Open Market Committee (FOMC). The Federal Reserve occasionally conducts one or two additional surveys during the year. Questions cover changes in the standards and terms of the banks' lending and the state of business and household demand for loans. The survey often includes questions on other topics of current interest. The survey results are released on Mondays after the FOMC meeting.

IOER (https://fred.stlouisfed.org/series/IOER)) and the interest rate on required reserves (IORR (https://fred.stlouisfed.org/series/IORR)) were replaced with a single rate, the interest rate on reserve balances (IORB (https://fred.stlouisfed.org/series/IORB)). See the source's announcement (https://www.federalreserve.gov/newsevents/pressreleases/bcreg20210602a.htm) for more details.

The interest rate on reserve balances (IORB rate) is the rate of interest that the Federal Reserve pays on balances maintained by or on behalf of eligible institutions in master accounts at Federal Reserve Banks. The interest rate is set by the Board of Governors, and it is an important tool of monetary policy.

See Policy Tools (https://www.federalreserve.gov/monetarypolicy/reqresbalances.htm) and the IORB FAQs (https://www.federalreserve.gov/monetarypolicy/iorb-faqs.htm) for more information.

For questions on FRED functionality, please contact us here (https://fred.stlouisfed.org/contactus/).

Label Interpretation

LABEL_2: NeutralLABEL_1: HawkishLABEL_0: Dovish

  Citation and Contact Information





  Cite

Please cite our paper if you use any code, data, or models. @inproceedings{shah-etal-2023-trillion, title = "Trillion Dollar Words: A New Financial Dataset, Task {&} Market Analysis", author = "Shah, Agam and Paturi, Suvan and Chava, Sudheer", booktitle = "Proceedings of the 61st Annual Meeting of the Association for… See the full description on the dataset page: https://huggingface.co/datasets/gtfintechlab/fomc_communication.

The narrative approach to macroeconomic identification uses qualitative sources, such as newspapers or government records, to provide information that can help establish causal relationships. This paper discusses the requirements for rigorous narrative analysis using fresh research on the impact of monetary policy as the focal application. We read the historical minutes and transcripts of Federal Reserve policymaking meetings to identify significant contractionary and expansionary changes in monetary policy not taken in response to current or prospective developments in real activity for the period 1946 to 2016. We find that such monetary shocks have large and significant effects on unemployment, output, and inflation in the expected directions. Analysis of available policy records suggests that a contractionary monetary shock likely occurred in 2022. Based on the empirical estimates of the effect of previous shocks, one would expect substantial negative impacts on real GDP and inflation in 2023 and 2024.

Abstract (en): The purpose of the data is to investigate whether and how financial markets have responded to the change in the Federal Open Market Commission (FOMC) disclosure policy, specifically, whether the policy of immediate disclosure has created an announcement effect and whether the policy of immediate disclosure has increased or reduced financial market uncertainty. (1) The files submitted are ND96DATA.DT and ND96PGM.DT, both in ASCII text format. These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.

We introduce a new dataset of real gross domestic product (GDP) growth and core personal consumption expenditures (PCE) inflation forecasts produced by the staff of the Board of Governors of the Federal Reserve System. In contrast to the eight Greenbook forecasts a year the staff produce for Federal Open Market Committee (FOMC) meetings, our dataset has roughly weekly forecasts. We use these data to study whether the staff forecasts efficiently. Prespecified regressions of forecast errors on forecast revisions show the staff's GDP forecasts exhibit time-varying inefficiency between FOMC meetings, and also show some evidence for inefficient inflation forecasts.

Policy interest rates in the U.S. and Europe are forecasted to decrease gradually between 2024 and 2027, following exceptional increases triggered by soaring inflation between 2021 and 2023. The U.S. federal funds rate stood at **** percent at the end of 2023, the European Central Bank deposit rate at **** percent, and the Swiss National Bank policy rate at **** percent. With inflationary pressures stabilizing, policy interest rates are forecast to decrease in each observed region. The U.S. federal funds rate is expected to decrease to *** percent, the ECB refi rate to **** percent, the Bank of England bank rate to **** percent, and the Swiss National Bank policy rate to **** percent by 2025. An interesting aspect to note is the impact of these interest rate changes on various economic factors such as growth, employment, and inflation. The impact of central bank policy rates The U.S. federal funds effective rate, crucial in determining the interest rate paid by depository institutions, experienced drastic changes in response to the COVID-19 pandemic. The subsequent slight changes in the effective rate reflected the efforts to stimulate the economy and manage economic factors such as inflation. Such fluctuations in the federal funds rate have had a significant impact on the overall economy. The European Central Bank's decision to cut its fixed interest rate in June 2024 for the first time since 2016 marked a significant shift in attitude towards economic conditions. The reasons behind the fluctuations in the ECB's interest rate reflect its mandate to ensure price stability and manage inflation, shedding light on the complex interplay between interest rates and economic factors. Inflation and real interest rates The relationship between inflation and interest rates is critical in understanding the actions of central banks. Central banks' efforts to manage inflation through interest rate adjustments reveal the intricate balance between economic growth and inflation. Additionally, the concept of real interest rates, adjusted for inflation, provides valuable insights into the impact of inflation on the economy.