JPMorgan is keen on AI and has reportedly created a ChatGPT-powered tool to analyze Fed statements, but it's previously banned its staff from using the AI chatbot.
Investment banking giant JPMorgan has reportedly unveiled an artificial intelligence tool to analyze Federal Reserve statements and speeches to detect potential trading signals.the Wall Street investment bank is using a ChatGPT-based language model to digest comments from United States central bankers.
These Fed policy signals will be rated on a scale from easy to restrictive to derive what the bank has called a Hawk-Dove Score. “Hawkish” is a monetary policy term that refers to raising interest rates to keep inflation under control. The opposite is “Dovish” which favors an expansionary monetary policy and lower rates.which could provide the bank with a heads-up on trading signals. “Preliminary applications are encouraging,” JPMorgan economist Joseph Lupton reportedly said.
The tool can be used to predict changes in central bank tightening. Hawkish policy statements for example could result in rising yields on one-year government bonds.model, which can analyze statements going back 25 years, Fed sentiment has fluctuated recently but remains predominantly hawkish.
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