Data in this graph are copyrighted. Please review the copyright information in the series notes before sharing.
Source: Dow Jones & Company
Release: Wall Street Journal
Units: Dollars per Barrel, Not Seasonally Adjusted
Frequency: Monthly
Prior to 1982 equals the posted price.
On August 5, 2013, the Wall Street Journal discontinued publication of some of its commodity energy prices. As a current substitute, see the monthly oil spot prices reported by the U.S. Department of Energy, Energy Information Administration at https://fred.stlouisfed.org/series/MCOILWTICO
Copyright, 2016, Dow Jones & Company
Dow Jones & Company, Spot Oil Price: West Texas Intermediate (DISCONTINUED) [OILPRICE], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/OILPRICE, June 10, 2024.
Source: Chicago Board Options Exchange
Release: CBOE Market Statistics
Units: Index, Not Seasonally Adjusted
Frequency: Daily, Close
Exchange Traded Funds (ETFs) are shares of trusts that hold portfolios of stocks designed to closely track the price performance and yield of specific indices. Copyright, 2016, Chicago Board Options Exchange, Inc. Reprinted with permission.
Chicago Board Options Exchange, CBOE Gold ETF Volatility Index [GVZCLS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GVZCLS, June 10, 2024.
Source: Board of Governors of the Federal Reserve System (US)
Release: H.15 Selected Interest Rates
Units: Percent, Not Seasonally Adjusted
Frequency: Weekly, Ending Wednesday
Averages of daily figures.
For additional historical federal funds rate data, please see Daily Federal Funds Rate from 1928-1954.
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".
Board of Governors of the Federal Reserve System (US), Federal Funds Effective Rate [FF], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/FF, June 10, 2024.
Source: U.S. Census Bureau
Source: U.S. Department of Housing and Urban Development
Release: New Residential Construction
Units: Thousands of Units, Seasonally Adjusted Annual Rate
Frequency: Monthly
As provided by the Census, start occurs when excavation begins for the footings or foundation of a building. All housing units in a multifamily building are defined as being started when this excavation begins. Beginning with data for September 1992, estimates of housing starts include units in structures being totally rebuilt on an existing foundation.
U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Privately-Owned Housing Units Started: Total Units [HOUST], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/HOUST, June 10, 2024.
Source: U.S. Bureau of Labor Statistics
Release: Employment Situation
Units: Thousands of Persons, Seasonally Adjusted
Frequency: Monthly
The series comes from the 'Current Population Survey (Household Survey)'
The source code is: LNS13000000
The Unemployment Level is the aggregate measure of people currently unemployed in the US. Someone in the labor force is defined as unemployed if they were not employed during the survey reference week, were available for work, and made at least one active effort to find a job during the 4-week survey period.
The Unemployment Level is collected in the CPS and published by the BLS. It is provided on a monthly basis, so this data is used in part by macroeconomists as an initial economic indicator of current trends. The Unemployment Level helps government agencies, financial markets, and researchers gauge the overall health of the economy.
Note that individuals that are not employed but not actively looking for a job are not counted as unemployed. For instance, declines in the Unemployment Level may either reflect movements of unemployed individuals into the labor force because they found a job, or movements of unemployed individuals out of the labor force because they stopped looking to find a job.
For more information, see:
U.S. Bureau of Labor Statistics, CES Overview
U.S. Bureau of Labor Statistics, BLS Handbook of Methods: Chapter 2. Employment, Hours, and Earnings from the Establishment Survey
U.S. Bureau of Labor Statistics, Unemployment Level [UNEMPLOY], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/UNEMPLOY, June 10, 2024.
Source: U.S. Bureau of Economic Analysis
Release: Gross Domestic Product
Units: Billions of Chained 2017 Dollars, Seasonally Adjusted Annual Rate
Frequency: Quarterly
BEA Account Code: A067RX
A Guide to the National Income and Product Accounts of the United States (NIPA) - (http://www.bea.gov/national/pdf/nipaguid.pdf)
U.S. Bureau of Economic Analysis, Real Disposable Personal Income [DPIC96], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DPIC96, June 10, 2024.
Source: U.S. Bureau of Economic Analysis
Release: Personal Income and Outlays
Units: Billions of Chained 2017 Dollars, Seasonally Adjusted Annual Rate
Frequency: Monthly
BEA Account Code: DPCERX
A Guide to the National Income and Product Accounts of the United States (NIPA)
U.S. Bureau of Economic Analysis, Real Personal Consumption Expenditures [PCEC96], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/PCEC96, June 10, 2024.
Source: U.S. Department of the Treasury. Fiscal Service
Release: Treasury Bulletin
Units: Millions of Dollars, Not Seasonally Adjusted
Frequency: Quarterly, End of Period
U.S. Department of the Treasury. Fiscal Service, Federal Debt: Total Public Debt [GFDEBTN], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GFDEBTN, June 10, 2024.
Source: U.S. Bureau of Labor Statistics
Release: Consumer Price Index
Units: Index 1982-1984=100, Seasonally Adjusted
Frequency: Monthly
The Consumer Price Index for All Urban Consumers: All Items (CPIAUCSL) is a price index of a basket of goods and services paid by urban consumers. Percent changes in the price index measure the inflation rate between any two time periods. The most common inflation metric is the percent change from one year ago. It can also represent the buying habits of urban consumers. This particular index includes roughly 88 percent of the total population, accounting for wage earners, clerical workers, technical workers, self-employed, short-term workers, unemployed, retirees, and those not in the labor force.
The CPIs are based on prices for food, clothing, shelter, and fuels; transportation fares; service fees (e.g., water and sewer service); and sales taxes. Prices are collected monthly from about 4,000 housing units and approximately 26,000 retail establishments across 87 urban areas. To calculate the index, price changes are averaged with weights representing their importance in the spending of the particular group. The index measures price changes (as a percent change) from a predetermined reference date. In addition to the original unadjusted index distributed, the Bureau of Labor Statistics also releases a seasonally adjusted index. The unadjusted series reflects all factors that may influence a change in prices. However, it can be very useful to look at the seasonally adjusted CPI, which removes the effects of seasonal changes, such as weather, school year, production cycles, and holidays.
The CPI can be used to recognize periods of inflation and deflation. Significant increases in the CPI within a short time frame might indicate a period of inflation, and significant decreases in CPI within a short time frame might indicate a period of deflation. However, because the CPI includes volatile food and oil prices, it might not be a reliable measure of inflationary and deflationary periods. For a more accurate detection, the core CPI (CPILFESL) is often used. When using the CPI, please note that it is not applicable to all consumers and should not be used to determine relative living costs. Additionally, the CPI is a statistical measure vulnerable to sampling error since it is based on a sample of prices and not the complete average.
For more information on the consumer price indexes, see:
Bureau of Economic Analysis. "CPI Detailed Report." 2013.
Handbook of Methods
Understanding the CPI: Frequently Asked Questions
U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers: All Items in U.S. City Average [CPIAUCSL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CPIAUCSL, June 10, 2024.
Source: Board of Governors of the Federal Reserve System (US)
Release: Z.1 Financial Accounts of the United States
Units: Billions of Dollars, Seasonally Adjusted
Frequency: Quarterly, End of Period
Source ID: LA154104005.Q
For more information about the Flow of Funds tables, see the Financial Accounts Guide.
With each quarterly release, the source may make major data and structural revisions to the series and tables. These changes are available in the Release Highlights.
In the Financial Accounts, the source identifies each series by a string of patterned letters and numbers. For a detailed description, including how this series is constructed, see the series analyzer provided by the source.
Board of Governors of the Federal Reserve System (US), Households and Nonprofit Organizations; Debt Securities and Loans; Liability, Level [CMDEBT], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CMDEBT, June 10, 2024.
Source: U.S. Bureau of Economic Analysis
Release: Gross Domestic Product
Units: Billions of Dollars, Seasonally Adjusted Annual Rate
Frequency: Quarterly
BEA Account Code: A191RC
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) and the Bureau of Economic Analysis.
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, June 10, 2024.
Federal Funds Effective Rate
Annual, Not Seasonally Adjusted Biweekly, Not Seasonally Adjusted Daily, Not Seasonally Adjusted Daily, Not Seasonally Adjusted Monthly, Not Seasonally AdjustedNew Privately-Owned Housing Units Started: Total Units
Monthly, Not Seasonally AdjustedUnemployment Level
Monthly, Not Seasonally AdjustedReal Disposable Personal Income
Monthly, Seasonally Adjusted Annual Rate Percent Change from Preceding Period, Annual, Not Seasonally Adjusted Percent Change from Preceding Period, Quarterly, Seasonally Adjusted Annual Rate Percent Change from Quarter One Year Ago, Quarterly, Seasonally AdjustedReal Personal Consumption Expenditures
Annual, Not Seasonally Adjusted Quarterly, Not Seasonally Adjusted Quarterly, Seasonally Adjusted Annual Rate Index 2017=100, Quarterly, Not Seasonally Adjusted Percent Change from Preceding Period, Annual, Not Seasonally Adjusted Percent Change from Preceding Period, Monthly, Seasonally Adjusted Percent Change from Preceding Period, Quarterly, Seasonally Adjusted Annual Rate Percent Change from Quarter One Year Ago, Quarterly, Not Seasonally Adjusted Percent Change from Quarter One Year Ago, Quarterly, Seasonally AdjustedConsumer Price Index for All Urban Consumers: All Items in U.S. City Average
Monthly, Not Seasonally Adjusted Semiannual, Not Seasonally AdjustedHouseholds and Nonprofit Organizations; Debt Securities and Loans; Liability, Level
Quarterly, Not Seasonally Adjusted Millions of Dollars, Annual, Not Seasonally Adjusted Millions of Dollars, Annual, Seasonally AdjustedGross Domestic Product
Annual, Not Seasonally Adjusted Annual, Not Seasonally Adjusted Index 2017=100, Quarterly, Not Seasonally Adjusted Millions of Dollars, Quarterly, Not Seasonally Adjusted Percent Change from Preceding Period, Annual, Not Seasonally Adjusted Percent Change from Preceding Period, Quarterly, Seasonally Adjusted Annual Rate