Canada

Monetary policy pronouncements by Federal Open Market Committee (FOMC) are a major driver of financial market returns. We construct the largest tokenized and annotated dataset of FOMC speeches, meeting minutes, and press conference transcripts in order to understand how monetary policy influences financial markets. In this study, we develop a novel task of hawkish-dovish classification and benchmark various pre-trained language models on the proposed dataset. Using the best-performing model (RoBERTa-large), we construct a measure of monetary policy stance for the FOMC document release days. To evaluate the constructed measure, we study its impact on the treasury market, stock market, and macroeconomic indicators. Our dataset, models, and code are publicly available on Huggingface and GitHub under CC BY-NC 4.0 license.

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ACL 2023

Trillion Dollar Words: A New Financial Dataset, Task &amp; Market Analysis

fomc

financial markets

monetary policy

resources

It is my great pleasure and honor to welcome you to the 64th Annual Meeting of the Association for Computational Linguistics (ACL 2026), held in San Diego, California, USA, July 2–7, 2026. ACL 2026 continues our fields tradition of excellence in scholarship, innovation, and inclusivity, and I am deeply grateful to the many volunteers who have worked tirelessly to bring this event to life.

It is exciting to see the many developments in the field reflected at our conference, such as the advancement of large language models (born out of our community) into many application directions. This is not without challenges, partly due to unsolved problems, and partly due to misuse of the technology. All this is reflected well at ACL 2026. The conference also reflects that the field is not only about advancing technology, but also the science of fundamentally understanding language and how it is use by many different speaker communities. <br>
[Full Message from General Chair Philipp Koehn](https://drive.google.com/file/d/1QiJFOmMjvDgsDo3i1XzlQnImxe3RU_Cy/view?usp=sharing) <br><br><br>
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ACL 2026

The 64th Annual Meeting of the Association for Computational Linguistics (ACL 2026) will take place in San Diego, California, from July 2 - 7, 2026.

Monetary policy pronouncements by Federal Open Market Committee (FOMC) are a major driver of financial market returns. We construct the largest tokenized and annotated dataset of FOMC speeches, meeting minutes, and press conference transcripts in order to understand how monetary policy influences financial markets. In this study, we develop a novel task of hawkish-dovish classification and benchmark various pre-trained language models on the proposed dataset. Using the best-performing model (RoBERTa-large), we construct a measure of monetary policy stance for the FOMC document release days. To evaluate the constructed measure, we study its impact on the treasury market, stock market, and macroeconomic indicators. Our dataset, models, and code are publicly available on Huggingface and GitHub under CC BY-NC 4.0 license.

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Trillion Dollar Words: A New Financial Dataset, Task & Market Analysis

poster

### Welcome to ACL 2023, the 61st Annual Meeting of the Association for Computational Linguistics! 
<br>The conference will be held in Toronto, Canada, July 9-14, 2023.<br><br>
Following the succession of the recent conferences in our field, ACL 2023 will adopt a hybrid format.
While the impact of Covid has considerably diminished in terms of traveling, obtaining visas to Canada
entails a very long process. Moreover, the global economic conditions pose challenges for many individuals to travel to conferences. Recognizing these circumstances, we know many participants may not be
able to attend the conference in person. Therefore, we are committed to providing a great virtual platform
so everyone has the opportunity to interact with other participants and enjoy the conference. Based on the
current registered participants, approxiately 30% have chosen to attend the conference virtually. Whether
you join us in person or virtually, we sincerely hope everyone has a remarkable conference experience.<br>
This General Chair’s message is where I express my gratitude to the many individuals who have made
enormous contributions to the conference over the past year.

Read [**ACL 2023 General Chair's message**](https://docs.google.com/document/d/1WobYM7norbG4dI48s75HfJoD89qgX5a_F-6U8AteLSA/edit?usp=sharing/) in full.

##### **[Conference Handbook](https://2023.aclweb.org/downloads/acl2023-handbook.pdf)**
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The Association for Computational Linguistics (ACL) is the premier international scientific and professional society for people working on computational problems involving human language, a field often referred to as either computational linguistics or natural language processing.

Reasoning has been a central topic in artificial intelligence from the beginning. The recent progress made on distributed representation and neural networks continues to improve the state-of-the-art performance of natural language inference. However, it remains an open question whether the models perform real reasoning to reach their conclusions or rely on spurious correlations. Adversarial attacks have proven to be an important tool to help evaluate the Achilles' heel of the victim models. In this study, we explore the fundamental problem of developing attack models based on logic formalism. We propose NatLogAttack to perform systematic attacks centring around natural logic, a classical logic formalism that is traceable back to Aristotle's syllogism and has been closely developed for natural language inference. The proposed framework renders both label-preserving and label-flipping attacks.We show that compared to the existing attack models, NatLogAttack generates better adversarial examples with fewer visits to the victim models. The victim models are found to be more vulnerable under the label-flipping setting. NatLogAttack provides a tool to probe the existing and future NLI models' capacity from a key viewpoint and we hope more logic-based attacks will be further explored for understanding the desired property of reasoning.

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NatLogAttack: A Framework for Attacking Natural Language Inference Models with Natural Logic

Optimizing the phrasing of argumentative text is crucial in higher education and professional development. However, assessing whether and how the different claims in a text should be revised is a hard task, especially for novice writers. In this work, we explore the main challenges to identifying argumentative claims in need of specific revisions. By learning from collaborative editing behaviors in online debates, we seek to capture implicit revision patterns in order to develop approaches aimed at guiding writers in how to further improve their arguments. We systematically compare the ability of common word embedding models to capture the differences between different versions of the same text, and we analyze their impact on various types of writing issues. To deal with the noisy nature of revision-based corpora, we propose a new sampling strategy based on revision distance. Opposed to approaches from prior work, such sampling can be done without employing additional annotations and judgments. Moreover, we provide evidence that using contextual information and domain knowledge can further improve prediction results. How useful a certain type of context is, depends on the issue the claim is suffering from, though.

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To Revise or Not to Revise: Learning to Detect Improvable Claims for Argumentative Writing Support

Neural machine translation (NMT) has become the de-facto standard in real-world machine translation applications. However, NMT models can unpredictably produce severely pathological translations, known as hallucinations, that seriously undermine user trust. It becomes thus crucial to implement effective preventive strategies to guarantee their proper functioning. In this paper, we address the problem of hallucination detection in NMT by following a simple intuition: as hallucinations are detached from the source content, they exhibit encoder-decoder attention patterns that are statistically different from those of good quality translations. We frame this problem with an optimal transport formulation and propose a fully unsupervised, plug-in detector that can be used with any attention-based NMT model. Experimental results show that our detector not only outperforms all previous model-based detectors, but is also competitive with detectors that employ external models trained on millions of samples for related tasks such as quality estimation and cross-lingual sentence similarity.

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Optimal Transport for Unsupervised Hallucination Detection in Neural Machine Translation

We present bgGLUE (Bulgarian General Language Understanding Evaluation), a benchmark for evaluating language models on Natural Language Understanding (NLU) tasks in Bulgarian. Our benchmark includes NLU tasks targeting a variety of NLP problems (e.g., natural language inference, fact-checking, named entity recognition, sentiment analysis, question answering, etc.) and machine learning tasks (sequence labeling, document-level classification, and regression). We run the first systematic evaluation of pre-trained language models for Bulgarian, comparing and contrasting results across the nine tasks in the benchmark. The evaluation results show strong performance on sequence labeling tasks, but there is a lot of room for improvement for tasks that require more complex reasoning. We make bgGLUE publicly available together with the fine-tuning and the evaluation code, as well as a public leaderboard at https://bgglue.github.io, and we hope that it will enable further advancements in developing NLU models for Bulgarian.

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bgGLUE: A Bulgarian General Language Understanding Evaluation Benchmark

Chain-of-Thought (CoT) prompting can dramatically improve the multi-step reasoning abilities of large language models (LLMs). CoT explicitly encourages the LLM to generate intermediate rationales for solving a problem, by providing a series of reasoning steps in the demonstrations. Despite its success, there is still little understanding of what makes CoT prompting effective and which aspects of the demonstrated reasoning steps contribute to its performance. In this paper, we show that CoT reasoning is possible even with invalid demonstrations - prompting with invalid reasoning steps can achieve over 80-90% of the performance obtained using CoT under various metrics, while still generating coherent lines of reasoning during inference. Further experiments show that other aspects of the rationales, such as being relevant to the query and correctly ordering the reasoning steps, are much more important for effective CoT reasoning. Overall, these findings both deepen our understanding of CoT prompting, and open up new questions regarding LLMs' capability to learn to reason in context.

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Towards Understanding Chain-of-Thought Prompting: An Empirical Study of What Matters

Unsupervised speech recognition (\asru/) is the problem of learning automatic speech recognition (ASR) systems from \emph{unpaired} speech-only and text-only corpora. While various algorithms exist to solve this problem, a theoretical framework is missing to study their properties and address such issues as sensitivity to hyperparameters and training instability. In this paper, we proposed a general theoretical framework to study the properties of \asru/ systems based on random matrix theory and the theory of neural tangent kernels. Such a framework allows us to prove various learnability conditions and sample complexity bounds of \asru/. Extensive \asru/ experiments on synthetic languages with three classes of transition graphs provide strong empirical evidence for our theory (code available at \href{https://github.com/cactuswiththoughts/UnsupASRTheory.git}{cactuswiththoughts/UnsupASRTheory.git}).

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A Theory of Unsupervised Speech Recognition

\textit{\textbf{\textcolor{red}{Warning}:} This paper contains content that may be offensive or upsetting.}Pretrained conversational agents have been exposed to safety issues, exhibiting a range of stereotypical human biases such as gender bias. However, there are still limited bias categories in current research, and most of them only focus on English. In this paper, we introduce a new Chinese dataset, CHBias, for bias evaluation and mitigation of Chinese conversational language models.Apart from those previous well-explored bias categories, CHBias includes under-explored bias categories, such as ageism and appearance biases, which received less attention. We evaluate two popular pretrained Chinese conversational models, CDial-GPT and EVA2.0, using CHBias. Furthermore, to mitigate different biases, we apply several debiasing methods to the Chinese pretrained models. Experimental results show that these Chinese pretrained models are potentially risky for generating texts that contain social biases, and debiasing methods using the proposed dataset can make response generation less biased while preserving the models' conversational capabilities.

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CHBias: Bias Evaluation and Mitigation of Chinese Conversational Language Models

Human evaluation is indispensable and inevitable for assessing the quality of texts generated by machine learning models or written by humans. However, human evaluation is very difficult to reproduce and its quality is notoriously unstable, hindering fair comparisons among different natural language processing (NLP) models and algorithms.Recently, large language models (LLMs) have demonstrated exceptional performance on unseen tasks when only the task instructions are provided.In this paper, we explore if such an ability of the LLMs can be used as an alternative to human evaluation.We present the LLMs with the exact same instructions, samples to be evaluated, and questions used to conduct human evaluation, and then ask the LLMs to generate responses to those questions; we dub this LLM evaluation.We use human evaluation and LLM evaluation to evaluate the texts in two NLP tasks: open-ended story generation and adversarial attacks.We show that the result of LLM evaluation is consistent with the results obtained by expert human evaluation: the texts rated higher by human experts are also rated higher by the LLMs.We also find that the results of LLM evaluation are stable over different formatting of the task instructions and the sampling algorithm used to generate the answer.We are the first to show the potential of using LLMs to assess the quality of texts and discuss the limitations and ethical considerations of LLM evaluation.

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Can Large Language Models Be an Alternative to Human Evaluations?

Although large language models can be prompted for both zero- and few-shot learning, performance drops significantly when no demonstrations are available. In this paper, we introduce Z-ICL, a new zero-shot method that closes the gap by constructing pseudo-demonstrations for a given test input using a raw text corpus. Concretely, pseudo-demonstrations are constructed by (1) finding the nearest neighbors to the test input from the corpus and pairing them with random task labels, and (2) applying a set of techniques to reduce the amount of direct copying the model does from the resulting demonstrations. Evaluation on nine classification datasets shows that Z-ICL outperforms previous zero-shot methods by a significant margin, and is on par with in-context learning with labeled training data in the few-shot setting. Overall, Z-ICL provides a significantly higher estimate of the zero-shot performance levels of a model, and supports future efforts to develop better pseudo-demonstrations that further improve zero-shot results.

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Z-ICL: Zero-Shot In-Context Learning with Pseudo-Demonstrations

A key missing capacity of current language models (LMs) is grounding to real-world environments. Most existing work for grounded language understanding uses LMs to directly generate plans that can be executed in the environment to achieve the desired effects. It thereby casts the burden of ensuring grammaticality, faithfulness, and controllability all on the LMs. We propose Pangu, a generic framework for grounded language understanding that capitalizes on the discriminative ability of LMs instead of their generative ability. Pangu consists of a symbolic agent and a neural LM working in a concerted fashion: The agent explores the environment to incrementally construct valid plans, and the LM evaluates the plausibility of the candidate plans to guide the search process. A case study on the challenging problem of knowledge base question answering (KBQA), which features a massive environment, demonstrates the remarkable effectiveness and flexibility of Pangu: A BERT-base LM is sufficient for setting a new record on standard KBQA datasets, and larger LMs further bring substantial gains.Pangu also enables, for the first time, effective few-shot in-context learning for KBQA with large LMs such as Codex.

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NatLogAttack: A Framework for Attacking Natural Language Inference Models with Natural Logic

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