Extracting and Forecasting Economics Data from FRED using Python Machine Learning

Welcome to this tutorial on economics data extraction and forecasting. In this video, we will be discussing the process of extracting economic data and using it to make predictions about the future. We will be using Python programming language and various libraries to extract data from different sources such as websites, APIs and database. We will also be discussing various forecasting models that can be applied to economic data, such as time series analysis, regression analysis and machine learning. By the end of this tutorial, you will have a solid understanding of how to extract and forecast economic data using Python. So, whether you're a student, researcher, or professional in the field of economics, this tutorial is for you. Don't forget to hit the subscribe button for more videos on data science and analytics.
Find the code in my Github: github.com/hey...
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[@peytonmello7057]

Thank you Ronith. I was able to learn about jupyter notebooks as well as the FRED database from this video.

[@gunnarcodes]

Great video! Thanks Ronith!

[@TimelyTimeSeries]

I'm currently learning more about Prophet, and your detail explanation of your code makes it easy to understand Prophet. Thanks for the video!

[@tasneembasrakhan]

you are great really

[@frankgiardina205]

Thanks for the video. I have used FRED a lot and was not aware of the Prophet model.

[@ronithsharmila]

Thanks ! :)

[@Abhishek-gr7rp]

really helpful

[@Sumanguptabhajans]

Can u do a video on how to use data analysis ( Econometrics modelling) to see the relationship between inflation and its determinants in python

[@ProSpase]

Great video. can you use the API to get the just released CPI data in news day? If so what's the time delay?

[@ronithsharmila]

Yes, You can use the API to extract the latest CPI data and the data should be instantly available once it goes live.

[@ProSpase]

@@ronithsharmila Can you kindly show how to add this functionality to the API call please?

[@ronithsharmila]

@@ProSpaseSure ! Just follow the same steps on how I extracted the CPI data for this video. But make sure you select the correct series id when extracting in your python environment. Series ID : CPIAUCSL

[@zeelthumar]

Keep it up brother

[@ronithsharmila]

Thanks !

[@EconWithDrA]

Good video

[@ronithsharmila]

Thanks Professor !

[@iiN1GH7M4R3ii]

Really interesing video.. Question, do you have to be running python versions < 3.9 for fbprophet to be installed? I cant seem to get the code @10:00 to work bc im on python 3.10.9 and get this NameError: name 'Prophet' is not defined

[@ashwika4782]

Thanks for this helpful video. But how can we fetch those economic data which comes as forecast vs actual such as U.S. Gross Domestic Product (GDP) QoQ, actually I want to make a python program for forex trading that if a data comes more than forecast it buys USD for me

[@ronithsharmila]

If I'm understanding correctly, Are you trying to build a Automated python tool for Forex ?

[@brandonbyrd8466]

How do I use python to pull a list of ALL the FRED Series ID's? Can't be impossible..?

[@ronithsharmila]

Yes, You can. First define the FRED API key and the URL to the series endpoint. We can then use a while loop to paginate through the series IDs. The loop sends a request to the FRED API and retrieves the JSON response. Then you can print the series id's.

[@kabijoshi5949]

Sharmile bhai, you are too slow. Lets be fast body. Keep it up.