Abbreviations

Monetary Policy Report submitted to the Congress on February 25, 2022, pursuant to section 2B of the Federal Reserve Act

AFE
advanced foreign economy
ARM
adjustable-rate mortgage
BLS
Bureau of Labor Statistics
CCP
central counterparty
CIE
common inflation expectations
COVID-19
coronavirus disease 2019
CPI
consumer price index
CPS
Current Population Survey
EME
emerging market economy
FOMC
Federal Open Market Committee; also, the Committee
GDP
gross domestic product
LFPR
labor force participation rate
MBS
mortgage-backed securities
MMF
money market fund
ON RRP
overnight reverse repurchase agreement
OPEC
Organization of the Petroleum Exporting Countries
PCE
personal consumption expenditures
PPP
Paycheck Protection Program
repo
repurchase agreement
SEC
Securities and Exchange Commission
SOFR
Secured Overnight Financing Rate
SOMA
System Open Market Account
S&P
Standard & Poor's
TGA
Treasury General Account
TIPS
Treasury Inflation-Protected Securities
USD
U.S. dollar
VIX
implied volatility for the S&P 500 index
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Last Update: August 11, 2022