Data for the monetary base, M1 aggregate, M2 aggregate, and M3 aggreagate are seasonally adjusted. Last plots for the monetary base, M1, M2, and M3 are estimated for July 2000. All other dotted lines represent growth rates and are for reference only. Interest Rates a. Average for the week ending on this date.
All yields are from constant-maturity series.
Inflation and Prices a. Calculated by the Federal Reserve Bank of Cleveland. Upper and lower bounds for inflation path as implied by the central tendency growth ranges issued by the FOMC and nonvoting Reserve Bank presidents. Mean expected change in consumer prices as measured by the University of Michigan's Survey of Consumers . Measured as output per hour.