A measure of real interest rates can be approximated by the Treasury Inflation-Indexed Security, or TIIS. Go to the St. Louis Federal Reserve FRED database,

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A measure of real interest rates can be approximated by the Treasury Inflation-Indexed Security, or TIIS. Go to the St. Louis Federal Reserve FRED database, and find data on the five-year TIIS (FII5) and the personal consumption expenditure price index (PCECTPI), a measure of the price index. Choose "Quarterly" for the frequency setting for the TIIS, and choose "Percent Change From Year Ago" for the units setting on (PCECTPI). Plot both series on the same graph, using data from 2007 through the most current data available. Use the graph to identify periods of autonomous monetary policy changes. Briefly explain your reasoning.

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The Economics of Money Banking and Financial Markets

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