This discussion entails browsing the macroeconomic data resourceFRED (Federal Reserve Economic Data)(Links to an external site.)website, and specifically theirmacroeconomic data dashboard page(Links to an external site.).

To do:

1. Browse the FRED homepage (link above). Go to the menu option 'About FRED' > 'What is FRED?' to watch this videoLinks to an external site. and skim the timeline below it.

2. Next launch the MACRO SNAPSHOTLinks to an external site. on FRED's macroeconomic data dashboard (link above). Browse this site and it's links. Take your time as there is much to investigate!

3. If you haven't yet, go to inflationLinks to an external site. . Notice that all of these time series have adjustable time horizons. Click on 'max' to get some perspective. Ask yourself : For how many years has the US inflation rate stabilized around 2%? What time frame was the US inflation rate at its highest and what was it? Notice that there are several different ways to measure inflation (scroll down the page). Usually, though, when we think of inflation we consider what consumers are facing.

FRED also has a greatblogLinks to an external site.for those of us seeking to stay informed about current events. For example a here's a post onegg price deflation and fresh chicken price disinflationLinks to an external site.. Remember last year when everyone was upset about egg prices? (Deflationoccures when the prices are falling. That implies a negative inflation rate. Disinflationoccurs when inflation rates are trending downward (i.e., 6%, 5%, 3%,...). Here, prices on average are rising, but at a decreasing rate.)

4. Go to the summary of key macroeconomic indicatorsLinks to an external site. and notice that these contain SEP (which is the Federal Reserve's Summary of Economic Projections). Toggle over these projections to see what the experts are predicting -- which is more informed than your uncle or your favorite prognosticator. Are they predicting a recession? Are they predicting inflation rates increasing or decreasing?

5. ASSIGNMENT/Post to Your Group (each group has about eight members):

a. Three things you found interesting on the FRED website (and only the FRED website). Include links for clarity and kindness.

b. Post one question to your group.