The Inflation Targeting Dashboard visualizes price growth against the Fed's 2% target.

Today, I launched the Inflation Targeting Dashboard. Its purpose is to illustrate the actual growth of dollar prices against the goal of the Federal Open Market Committee (FOMC), the body which sets monetary policy for the United States. The dashboard is free to access, with the intention of better informing the public. In this post, I provide additional guidance on understanding these data and the Fed's inflation target.
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The SEP Dashboard visualizes Federal Reserve economic projections to better inform the public's decision making.

Today, I launched the Summary of Economic Projections (SEP) Dashboard. Its purpose is to better communicate the economic projections of the Federal Open Market Committee (FOMC), the body which sets monetary policy for the United States. The dashboard is free to access, with the intention of helping the public make better-informed economic decisions. In this post, I provide additional guidance on understanding these data and projections.
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The sizes of federal liabilities are uncertain and state-contingent.

Properly accounting for federal liabilities is difficult because their sizes are uncertain and state-contingent, with off-balance-sheet liabilities structured like short, out-of-the-money puts. In good times, the government's creditworthiness may nonetheless allow it to borrow extraordinary amounts at low interest rates. In bad times, these liabilities expose the government to extreme and correlated losses which threaten fiscal solvency and financial stability.
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The U.S. faces increased risk of debt crisis.

The fiscal position of the U.S. federal government substantially worsened in the first half of 2020. As a result, the U.S. now faces an increased risk of debt crisis. One measure places the government's on-balance-sheet liabilities at over 130 percent of GDP, with trillions of dollars in additional off-balance-sheet liabilities. Swift and comprehensive action must be taken before the risk of a debt crisis is realized.
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