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(a) Crude Oil Prices: Brent - Europe, Dollars per Barrel, Not Seasonally Adjusted (WCOILBRENTEU)

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(a) Gross Domestic Product, Billions of Dollars, Seasonally Adjusted Annual Rate (GDP)
BEA Account Code: A191RC1

Gross domestic product (GDP), the featured measure of U.S. output, is the market value of the goods and services produced by labor and property located in the United States.

For more information, see the Guide to the National Income and Product Accounts of the United States (NIPA) - (http://www.bea.gov/national/pdf/nipaguid.pdf)

Gross Domestic Product

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(a) Gross Federal Debt, Billions of Dollars, Not Seasonally Adjusted (FYGFD)
Dates represent the end of the fiscal year.

Gross Federal Debt

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(a) St. Louis Adjusted Monetary Base, Billions of Dollars, Seasonally Adjusted (BASE)
The Adjusted Monetary Base is the sum of currency (including coin) in circulation outside Federal Reserve Banks and the U.S. Treasury, plus deposits held by depository institutions at Federal Reserve Banks. These data are adjusted for the effects of changes in statutory reserve requirements on the quantity of base money held by depositories.

This series has been reconstructed starting July 14, 2003. For further information, please refer to https://files.stlouisfed.org/research/publications/review/03/09/Anderson.pdf. Historical data and components are available at https://files.stlouisfed.org/research/publications/review/03/09/0309ra.xls.

St. Louis Adjusted Monetary Base

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  EDIT LINE 5
(a) Effective Federal Funds Rate, Percent, Not Seasonally Adjusted (FEDFUNDS)
Averages of daily figures.

The federal funds rate is the interest rate at which depository institutions trade federal funds (balances held at Federal Reserve Banks) with each other overnight. When a depository institution has surplus balances in its reserve account, it lends to other banks in need of larger balances. In simpler terms, a bank with excess cash, which is often referred to as liquidity, will lend to another bank that needs to quickly raise liquidity. (1) The rate that the borrowing institution pays to the lending institution is determined between the two banks; the weighted average rate for all of these types of negotiations is called the effective federal funds rate.(2) The effective federal funds rate is essentially determined by the market but is influenced by the Federal Reserve through open market operations to reach the federal funds rate target.(2)
The Federal Open Market Committee (FOMC) meets eight times a year to determine the federal funds target rate. As previously stated, this rate influences the effective federal funds rate through open market operations or by buying and selling of government bonds (government debt).(2) More specifically, the Federal Reserve decreases liquidity by selling government bonds, thereby raising the federal funds rate because banks have less liquidity to trade with other banks. Similarly, the Federal Reserve can increase liquidity by buying government bonds, decreasing the federal funds rate because banks have excess liquidity for trade. Whether the Federal Reserve wants to buy or sell bonds depends on the state of the economy. If the FOMC believes the economy is growing too fast and inflation pressures are inconsistent with the dual mandate of the Federal Reserve, the Committee may set a higher federal funds rate target to temper economic activity. In the opposing scenario, the FOMC may set a lower federal funds rate target to spur greater economic activity. Therefore, the FOMC must observe the current state of the economy to determine the best course of monetary policy that will maximize economic growth while adhering to the dual mandate set forth by Congress. In making its monetary policy decisions, the FOMC considers a wealth of economic data, such as: trends in prices and wages, employment, consumer spending and income, business investments, and foreign exchange markets.
The federal funds rate is the central interest rate in the U.S. financial market. It influences other interest rates such as the prime rate, which is the rate banks charge their customers with higher credit ratings. Additionally, the federal funds rate indirectly influences longer- term interest rates such as mortgages, loans, and savings, all of which are very important to consumer wealth and confidence.(2)
References
(1) Federal Reserve Bank of New York. “Federal funds.” Fedpoints, August 2007.
(2) Board of Governors of the Federal Reserve System. “Monetary Policy”. http://www.federalreserve.gov/monetarypolicy/default.htm.

Effective Federal Funds Rate

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  EDIT LINE 6
(a) Gold Fixing Price 3:00 P.M. (London time) in London Bullion Market, based in U.S. Dollars©, U.S. Dollars per Troy Ounce, Not Seasonally Adjusted (GOLDPMGBD228NLBM)
The London Bullion Market Association (LBMA) Gold Price was launched on the 20th March 2015 to replace the historic London Gold Fix. ICE Benchmark Administration (IBA) provides the auction platform, methodology as well as overall independent administration and governance for the LBMA Gold Price, with the LBMA holding the intellectual property rights. The price continues to be set twice daily (at 10:30 and 15:00 London GMT) in US dollars. Sterling and Euro prices are available but they are indicative prices for settlement only. For further information contact the LBMA at Au.Consult@lbma.org.uk or the IBA at iba@theice.com.

Gold Fixing Price 3:00 P.M. (London time) in London Bullion Market, based in U.S. Dollars©

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NOTES

Source: U.S. Energy Information Administration  

Release: Spot Prices  

Units:  Dollars per Barrel, Not Seasonally Adjusted

Frequency:  Weekly

Notes:

Definitions, Sources and Explanatory Notes: http://www.eia.doe.gov/dnav/pet/TblDefs/pet_pri_spt_tbldef2.asp

Suggested Citation:

U.S. Energy Information Administration, Crude Oil Prices: Brent - Europe [WCOILBRENTEU], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/WCOILBRENTEU, August 18, 2017.

Source: U.S. Bureau of Economic Analysis  

Release: Gross Domestic Product  

Units:  Billions of Dollars, Seasonally Adjusted Annual Rate

Frequency:  Quarterly

Notes:

BEA Account Code: A191RC1

Gross domestic product (GDP), the featured measure of U.S. output, is the market value of the goods and services produced by labor and property located in the United States.

For more information, see the Guide to the National Income and Product Accounts of the United States (NIPA) - (http://www.bea.gov/national/pdf/nipaguid.pdf)

Suggested Citation:

U.S. Bureau of Economic Analysis, Gross Domestic Product [GDP], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GDP, August 18, 2017.

Source: Council of Economic Advisers (US)  

Release: Economic Report of the President  

Units:  Billions of Dollars, Not Seasonally Adjusted

Frequency:  Annual

Notes:

Dates represent the end of the fiscal year.

Suggested Citation:

Council of Economic Advisers (US), Gross Federal Debt [FYGFD], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/FYGFD, August 18, 2017.

Source: Federal Reserve Bank of St. Louis  

Release: St. Louis Bi-Weekly Reserves and Monetary Base  

Units:  Billions of Dollars, Seasonally Adjusted

Frequency:  Biweekly

Notes:

The Adjusted Monetary Base is the sum of currency (including coin) in circulation outside Federal Reserve Banks and the U.S. Treasury, plus deposits held by depository institutions at Federal Reserve Banks. These data are adjusted for the effects of changes in statutory reserve requirements on the quantity of base money held by depositories.

This series has been reconstructed starting July 14, 2003. For further information, please refer to https://files.stlouisfed.org/research/publications/review/03/09/Anderson.pdf. Historical data and components are available at https://files.stlouisfed.org/research/publications/review/03/09/0309ra.xls.

Suggested Citation:

Federal Reserve Bank of St. Louis, St. Louis Adjusted Monetary Base [BASE], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/BASE, August 18, 2017.

Source: Board of Governors of the Federal Reserve System (US)  

Release: H.15 Selected Interest Rates  

Units:  Percent, Not Seasonally Adjusted

Frequency:  Monthly

Notes:

Averages of daily figures.

The federal funds rate is the interest rate at which depository institutions trade federal funds (balances held at Federal Reserve Banks) with each other overnight. When a depository institution has surplus balances in its reserve account, it lends to other banks in need of larger balances. In simpler terms, a bank with excess cash, which is often referred to as liquidity, will lend to another bank that needs to quickly raise liquidity. (1) The rate that the borrowing institution pays to the lending institution is determined between the two banks; the weighted average rate for all of these types of negotiations is called the effective federal funds rate.(2) The effective federal funds rate is essentially determined by the market but is influenced by the Federal Reserve through open market operations to reach the federal funds rate target.(2)
The Federal Open Market Committee (FOMC) meets eight times a year to determine the federal funds target rate. As previously stated, this rate influences the effective federal funds rate through open market operations or by buying and selling of government bonds (government debt).(2) More specifically, the Federal Reserve decreases liquidity by selling government bonds, thereby raising the federal funds rate because banks have less liquidity to trade with other banks. Similarly, the Federal Reserve can increase liquidity by buying government bonds, decreasing the federal funds rate because banks have excess liquidity for trade. Whether the Federal Reserve wants to buy or sell bonds depends on the state of the economy. If the FOMC believes the economy is growing too fast and inflation pressures are inconsistent with the dual mandate of the Federal Reserve, the Committee may set a higher federal funds rate target to temper economic activity. In the opposing scenario, the FOMC may set a lower federal funds rate target to spur greater economic activity. Therefore, the FOMC must observe the current state of the economy to determine the best course of monetary policy that will maximize economic growth while adhering to the dual mandate set forth by Congress. In making its monetary policy decisions, the FOMC considers a wealth of economic data, such as: trends in prices and wages, employment, consumer spending and income, business investments, and foreign exchange markets.
The federal funds rate is the central interest rate in the U.S. financial market. It influences other interest rates such as the prime rate, which is the rate banks charge their customers with higher credit ratings. Additionally, the federal funds rate indirectly influences longer- term interest rates such as mortgages, loans, and savings, all of which are very important to consumer wealth and confidence.(2)
References
(1) Federal Reserve Bank of New York. “Federal funds.” Fedpoints, August 2007.
(2) Board of Governors of the Federal Reserve System. “Monetary Policy”. http://www.federalreserve.gov/monetarypolicy/default.htm.

Suggested Citation:

Board of Governors of the Federal Reserve System (US), Effective Federal Funds Rate [FEDFUNDS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/FEDFUNDS, August 18, 2017.

Source: ICE Benchmark Administration Limited (IBA)  

Release: LBMA Gold Price: Daily Prices  

Units:  U.S. Dollars per Troy Ounce, Not Seasonally Adjusted

Frequency:  Daily

Notes:

The London Bullion Market Association (LBMA) Gold Price was launched on the 20th March 2015 to replace the historic London Gold Fix. ICE Benchmark Administration (IBA) provides the auction platform, methodology as well as overall independent administration and governance for the LBMA Gold Price, with the LBMA holding the intellectual property rights. The price continues to be set twice daily (at 10:30 and 15:00 London GMT) in US dollars. Sterling and Euro prices are available but they are indicative prices for settlement only. For further information contact the LBMA at Au.Consult@lbma.org.uk or the IBA at iba@theice.com.

Suggested Citation:

ICE Benchmark Administration Limited (IBA), Gold Fixing Price 3:00 P.M. (London time) in London Bullion Market, based in U.S. Dollars© [GOLDPMGBD228NLBM], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GOLDPMGBD228NLBM, August 18, 2017.

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