Upper and lower bounds for inflation path as implied by the central tendency growth ranges issued by the FOMC and nonvoting Reserve Bank presidents. Calculated by the Federal Reserve Bank of Cleveland. Monetary Policy a. Weekly average. Data are seasonally adjusted. The sweep-adjusted base contains an estimate of required reserves saved when balances are shifted from reservable to nonreservable accounts.
All yields are from constant-maturity series.
Average for the week ending on this date. Bloomberg generic series. The estimated expected inflation rate and the estimated real rate are calculated using the Pennacchi model of inflation estimation and the median forecast for the GDP implicit price deflator from the Survey of Professional Forecasters. Last plots for the monetary base and the sweep-adjusted base are February and January, respectively. Last plot for M2 is estimated for March 2001.