We just added the Personal Consumption Expenditures (PCE) Price Index to the Time Series Chart and Revisions page. PCE is a measure of inflation, similar to CPI, often referred to in media as the Fed's preferred measure of inflation.
Earlier this year we greatly expanded the functionality of the US Treasuries & Economic Indicators Time Series page, allowing users to compare interest rates against other economic data such as GDP and inflation metrics. It is important to note that such economic data released by the US government is frequently revised. On this website, we recently launched a tool to help you better track government economic data revisions of historical data.
We just added the Fed's Overnight Reverse Repurchase Agreement Award rate to our yield curve and time series charts, denoted as "RRP". In context of the term structure of interest rates, RRP is the shortest of short term yields. It is the overnight interest rate awarded by the Fed in exchange for holding collateral. Banks use this facility as a means to generate return on their excess deposits.
This Labor Day weekend we launched a significant update to ustreasuryyieldcurve.com, adding the Federal Funds Target Rate to the US yield curve chart. The FOMC expresses its target of the short term overnight lending rate for banks as a range, currently at 5.25-5.5%. This is the interest rate widely cited in the media whenever the Fed raises or lowers interest rates.
In an effort to make the website more useful, we are planning on adding two more data sets to the yield curve chart: The Fed's Overnight Reverse Repo Facility Rate (ON RRP) and the Fed Funds Rate. Both of these rates are critical in determining short term interest rates in the economy.
One of our users shared some interesting thoughts on how to visualize yield curve inversions over time. This method can provide some insight into how yield curve inversions correlate with bull and bear markets for equities.
This weekend we migrated the application to a new server with more bandwidth. Expect small improvements to performance and load times going forward. Per the rise in traffic to this website and requests from our users, many new features are in planning. To help cover the costs of running this website, we will run ads very soon and will be accepting sponsorships.