WEB: Economic Data Series

Personal Consumption Expenditures by Major Type of Product (Billions of Dollars)

The Fed's Policy Framework Revision

The Federal Reserve (Fed) announced a revision to its long-run monetary policy framework in August 2020. This shift emphasizes a more flexible approach to inflation targeting, allowing for periods of above-2% inflation after periods of below-2% inflation.

Chained Core PCE Revisions

WEB also provides access to graph and download revisions to economic data, including the chained core PCE. This data series measures the change in prices for goods and services excluding food and energy. The chained core PCE is closely watched by the Fed as an indicator of underlying inflation.

Conclusion

WEB is a valuable resource for economists, policymakers, and anyone interested in tracking economic trends. The site provides access to a wide range of economic data series, including the Personal Consumption Expenditures by Major Type of Product and the chained core PCE. This data can be used to analyze economic conditions, forecast future trends, and make informed decisions.