Get Fed Policy Spread (EFFR vs IORB)
get_policy_spreadReturns the spread between the Effective Federal Funds Rate (EFFR) and Interest on Reserve Balances (IORB), with an interpretation of Fed policy stance. EFFR below IORB is the normal operating band. Source: FRED.
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
No arguments | |||
Output Schema
| Name | Required | Description | Default |
|---|---|---|---|
| effr | Yes | Effective Federal Funds Rate (%) | |
| iorb | Yes | Interest on Reserve Balances (%) | |
| as_of | Yes | Date of the most recent data | |
| spread | Yes | EFFR minus IORB spread in percentage points | |
| interpretation | Yes | Policy stance interpretation |