Federal funds target range
The federal funds rate is the overnight rate banks charge each other for reserve balances.
Learn
Economy
Guides in this track
statement vs minutes
The FOMC statement is the decision document.
what a dissent is
A dissent is a named member’s recorded preference against the action the Committee took.
Advance, second, third — three GDPs for one quarter
BEA does not publish one GDP number for a quarter and walk away.
PCE and CPI are not two names for one index
The PCE price index is BEA’s chain-type index of prices paid for personal consumption.
SAAR is a pace, not a total
A seasonally adjusted annual rate takes a quarter-to-quarter or month-to-month change, strips the usual seasonal pattern, and states it as if that pace lasted a year.
How oil prices feed into inflation
Oil can change the cost of filling a tank before it changes much else. Following that journey explains why energy can move headline inflation sharply while leaving a smaller, slower imprint on underlying price trends.
Education and journalism only. Read the full disclaimer.