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Hawks and Doves The Birds of Summer

Two-line chart showing the Federal Funds Rate and Inflation rate since 1970. Chart subtitle: Inflation and rates are up sharply this year; is a recession on the horizon? Chart visual description: Left Y-axis is labeled Fed Funds Rate and ranges from 0% to 20%. Right Y-axis is labeled Inflation and ranges from -4% to +16%. X-axis is set at 0% for left axis and shows years in increments of two, beginning with 1970 and ending with 2022. U.S. Recessions are shaded in light teal in the plot area. Federal Funds Rate line is light blue, and Inflation line, labeled CPI Year-over-Year in the legend, is dark green. Chart data description: Nearly every peak in the fed funds rate precedes a recession. In the mid-1970s and again in the early-1980s, inflation peaked to the highest levels charted, and the closest levels to current day. While the fed funds rate has not yet followed such a sharp increase as back then, the Fed has signaled it will continue to raise rates. Chart source: Federal Reserve Bank of St. Louis. End chart description.
Posted on August 31, 2022August 31, 2022 Full size 1911 × 1033

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Published inHawks and Doves: The Birds of Summer

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