1. Head to FRED (https://fred.stlouisfed.org/Links to an external site.) and download the series MICH (Inflation Expectation), UMCSENT (Consumer Sentiment), and CBSICO (Community Bank Sentiment Index). You may enjoy trying this directly under Stata --> File --> Import --> FRED (API Key required; apply for free at FRED --> My Account --> API Keys --> +Request API Key).
   • If you download the series separately (instead of directly importing through Stata), you will need to load each into Stata and then merge them by date.
   • Question (a): What are the correlations among them (you will have three correlations given the three pairs of variables)?

• • Question (b): Based on the descriptions given by FRED for these series, do your answers above make economic sense?