FRED
open-meridian/fred · Community 0.3.0
0.2.0 · the vendor's words, data, never instructions.
# Overview
FRED, the Federal Reserve Bank of St. Louis's economic data service, carries
hundreds of thousands of series from many publishers. This plugin reads the
interest-rate series among them through FRED's API and puts them into your
deployment's lake as rates, where a reporting or pricing plugin reads them.
It is a data plugin: its first-use path, its two pages and its Summary figures are every data plugin's, described once on [Using a data plugin](https://open-meridian.dev/how-to/using-a-data-plugin/). These sections cover what is FRED's own.
## What it carries
This version carries rate series only, each recorded against a reference rate
or curve the platform keeps:
| Record | FRED series |
|---|---|
| SOFR, EFFR and OBFR (New York Fed) | `SOFR`, `EFFR`, `OBFR`, each a daily fixing with its 1st, 25th, 75th and 99th percentiles and its volume |
| The 30, 90 and 180-day SOFR averages | `SOFR30DAYAVG`, `SOFR90DAYAVG`, `SOFR180DAYAVG` |
| The SOFR Index | `SOFRINDEX`, an index level, 2 April 2018 = 1 |
| The FOMC target range, lower and upper bound | `DFEDTARL`, `DFEDTARU` |
| €STR (ECB) | `ECBESTRVOLWGTTRMDMNRT`, with its volume |
| Treasury's par yield curve | `DGS1MO` to `DGS30`: eleven points, 1 month to 30 years |
| Treasury's par real yield curve | `DFII5` to `DFII30`: five points, 5 to 30 years |
A curve is one record, and each point a rate with its tenor: FRED's `DGS10`
is the 10-year point of Treasury's par curve, the same subject and tenor as
Treasury's own figure.
Macro series (GDP, inflation, employment) come in a later version.
## FRED beside each publisher's own plugin
Every series here is first published by someone else: the New York Fed, the
Federal Reserve Board, the ECB or the Treasury. Each has its own plugin, and
that plugin is the primary source. FRED's dataset is a second source of the
same rates, with longer history in places (the 10-year Treasury yield from
1962). Your deployment's source priority says which one a reader gets by
default.
## When rates arrive
The plugin checks each series it keeps current every hour, and records what
FRED changed since. A rate belongs to its day, New York time. FRED states
when it last changed a series, not when each value appeared, so only the
latest value read when it is new carries a published time.
A value FRED revises (a fixing its publisher corrects the same day) becomes
the next version of the same rate. A day FRED shows no value for, a holiday
or a tenor not published, is no rate: never a zero.
## Copyright classes
FRED tags each series with its copyright: public domain, copyrighted with
citation required, or copyrighted with pre-approval required. The plugin
serves each class as its own dataset, so your licence for each is one
decision. A series whose class changes moves dataset, and the Datasets page
shows when.
## What it does not do
- It shows no rate on its own pages: rates are read by other plugins.
- It never creates a record. A rate whose record your deployment does not
hold waits, and is reported missing.
- It never stores or shows your API key.
FRED, the Federal Reserve Bank of St. Louis's economic data service, carries
hundreds of thousands of series from many publishers. This plugin reads the
interest-rate series among them through FRED's API and puts them into your
deployment's lake as rates, where a reporting or pricing plugin reads them.
It is a data plugin: its first-use path, its two pages and its Summary figures are every data plugin's, described once on [Using a data plugin](https://open-meridian.dev/how-to/using-a-data-plugin/). These sections cover what is FRED's own.
## What it carries
This version carries rate series only, each recorded against a reference rate
or curve the platform keeps:
| Record | FRED series |
|---|---|
| SOFR, EFFR and OBFR (New York Fed) | `SOFR`, `EFFR`, `OBFR`, each a daily fixing with its 1st, 25th, 75th and 99th percentiles and its volume |
| The 30, 90 and 180-day SOFR averages | `SOFR30DAYAVG`, `SOFR90DAYAVG`, `SOFR180DAYAVG` |
| The SOFR Index | `SOFRINDEX`, an index level, 2 April 2018 = 1 |
| The FOMC target range, lower and upper bound | `DFEDTARL`, `DFEDTARU` |
| €STR (ECB) | `ECBESTRVOLWGTTRMDMNRT`, with its volume |
| Treasury's par yield curve | `DGS1MO` to `DGS30`: eleven points, 1 month to 30 years |
| Treasury's par real yield curve | `DFII5` to `DFII30`: five points, 5 to 30 years |
A curve is one record, and each point a rate with its tenor: FRED's `DGS10`
is the 10-year point of Treasury's par curve, the same subject and tenor as
Treasury's own figure.
Macro series (GDP, inflation, employment) come in a later version.
## FRED beside each publisher's own plugin
Every series here is first published by someone else: the New York Fed, the
Federal Reserve Board, the ECB or the Treasury. Each has its own plugin, and
that plugin is the primary source. FRED's dataset is a second source of the
same rates, with longer history in places (the 10-year Treasury yield from
1962). Your deployment's source priority says which one a reader gets by
default.
## When rates arrive
The plugin checks each series it keeps current every hour, and records what
FRED changed since. A rate belongs to its day, New York time. FRED states
when it last changed a series, not when each value appeared, so only the
latest value read when it is new carries a published time.
A value FRED revises (a fixing its publisher corrects the same day) becomes
the next version of the same rate. A day FRED shows no value for, a holiday
or a tenor not published, is no rate: never a zero.
## Copyright classes
FRED tags each series with its copyright: public domain, copyrighted with
citation required, or copyrighted with pre-approval required. The plugin
serves each class as its own dataset, so your licence for each is one
decision. A series whose class changes moves dataset, and the Datasets page
shows when.
## What it does not do
- It shows no rate on its own pages: rates are read by other plugins.
- It never creates a record. A rate whose record your deployment does not
hold waits, and is reported missing.
- It never stores or shows your API key.