Fed Rates, Inflation & the Dollar #

US monetary policy as a time series - the funds rate, inflation, money supply, borrowing costs, and the dollar

See also: ECB Rates & Inflation · US Economy · US Yield Curve

Federal Funds Rate #

The Fed's main policy rate - the overnight rate that anchors the price of money across the economy

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Inflation vs the 2% Target #

PCE headline and core (excluding food and energy) year-over-year. The Fed targets 2% PCE inflation.

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Money Supply Growth #

Annual growth in M2 - the pandemic surge and the sharpest contraction since the 1930s both show up here

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Borrowing Costs #

The bank prime rate (business loans) and the 30-year mortgage rate (households) - how policy reaches the real economy

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The Dollar #

The nominal broad US dollar index - the dollar's trade-weighted value against a basket of partner currencies

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The funds rate is the monthly effective rate; inflation and money growth are year-over-year; the dollar index is trade-weighted (Jan 2006 = 100). Updated automatically via weekly cron.