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Article

Monetary Policy Sentiment and Its Influence on Healthcare and Technology Markets: A Transformer Model Approach

by
Dongnan Liu
1 and
Jong-Min Kim
2,*
1
School of Statistics College of Liberal Arts, Statistics Apartment, University of Minnesota-Twin Cities, Minneapolis, MN 55455, USA
2
Statistics Discipline, Division of Science and Mathematics, University of Minnesota-Morris, Morris, MN 56267, USA
*
Author to whom correspondence should be addressed.
Analytics 2025, 4(1), 6; https://doi.org/10.3390/analytics4010006
Submission received: 4 October 2024 / Revised: 7 December 2024 / Accepted: 8 February 2025 / Published: 11 February 2025
(This article belongs to the Special Issue Business Analytics and Applications)
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Abstract

This study investigates how the Federal Open Market Committee’s (FOMC) statements impact healthcare spending, mental health trends, and stock performance in healthcare and tech sectors By analyzing FOMC’s sentiment from 2018 to 2024, we found that higher sentiment correlates with increased depressive disorders (2019–2021) and tech stock returns, especially for the “Magnificent Seven” (like Apple and Amazon). Although healthcare stocks showed weaker ties to sentiment, Granger causality tests suggest some influence, hinting at ways to adjust stock strategies based on FOMC trends. These results highlight how central bank communication can shape both mental health dynamics and investment decisions in healthcare and technology.
Keywords: Federal Open Market Committee (FOMC); monetary policy; sentiment analysis; healthcare expenditure; mental health; correlation analysis; transformers; sentiment index Federal Open Market Committee (FOMC); monetary policy; sentiment analysis; healthcare expenditure; mental health; correlation analysis; transformers; sentiment index

Share and Cite

MDPI and ACS Style

Liu, D.; Kim, J.-M. Monetary Policy Sentiment and Its Influence on Healthcare and Technology Markets: A Transformer Model Approach. Analytics 2025, 4, 6. https://doi.org/10.3390/analytics4010006

AMA Style

Liu D, Kim J-M. Monetary Policy Sentiment and Its Influence on Healthcare and Technology Markets: A Transformer Model Approach. Analytics. 2025; 4(1):6. https://doi.org/10.3390/analytics4010006

Chicago/Turabian Style

Liu, Dongnan, and Jong-Min Kim. 2025. "Monetary Policy Sentiment and Its Influence on Healthcare and Technology Markets: A Transformer Model Approach" Analytics 4, no. 1: 6. https://doi.org/10.3390/analytics4010006

APA Style

Liu, D., & Kim, J.-M. (2025). Monetary Policy Sentiment and Its Influence on Healthcare and Technology Markets: A Transformer Model Approach. Analytics, 4(1), 6. https://doi.org/10.3390/analytics4010006

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