Abbreviations

Monetary Policy Report submitted to the Congress on July 5, 2024, pursuant to section 2B of the Federal Reserve Act

AFE
advanced foreign economy
AI
artificial intelligence
BOJ
Bank of Japan
BTFP
Bank Term Funding Program
CBO
Congressional Budget Office
CES
Current Employment Statistics
COVID-19
coronavirus disease 2019
CPI
consumer price index
CRE
commercial real estate
DI
depository institution
EFFR
effective federal funds rate
ELB
effective lower bound
EME
emerging market economy
EPOP ratio
employment-to-population ratio
FOMC
Federal Open Market Committee; also, the Committee
GDI
gross domestic income
GDP
gross domestic product
JOLTS
Job Openings and Labor Turnover Survey
LFPR
labor force participation rate
MBS
mortgage-backed securities
MMF
money market fund
NFIB
National Federation of Independent Business
OER
owners' equivalent rent
ON RRP
overnight reverse repurchase agreement
OPEC
Organization of the Petroleum Exporting Countries
PCE
personal consumption expenditures
QCEW
Quarterly Census of Employment and Wages
SEP
Summary of Economic Projections
SLOOS
Senior Loan Officer Opinion Survey on Bank Lending Practices
SOMA
System Open Market Account
S&P
Standard & Poor's
VIX
implied volatility for the S&P 500 index
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Last Update: July 05, 2024