Central banks in late 2021 kicked off the steepest and most coordinated series of interest rate hikes in four decades to contain the postpandemic inflation outbreak (see Chart 1). Many economists ...

Monetary theory in economics has consisted of various schools of thought rather than a single unified model. Each of these schools emphasizes different forces that drive inflation and recommends a ...

This data series is part of the Center for Monetary Research. The U.S. Monetary Policy Event-Study Database (USMPD) collects high-frequency changes of interest rates and asset prices around Federal ...

On Wednesday, the Federal Open Market Committee (FOMC) declined to lower the federal funds rate. The target rate has remained at a range of 3.50% to 3.75% since December 2025. Adjustments to the fed ...