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Get Fed Policy Spread (EFFR vs IORB)

get_policy_spread
Read-onlyIdempotent

Returns 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

TableJSON Schema
NameRequiredDescriptionDefault

No arguments

Output Schema

TableJSON Schema
NameRequiredDescriptionDefault
effrYesEffective Federal Funds Rate (%)
iorbYesInterest on Reserve Balances (%)
as_ofYesDate of the most recent data
spreadYesEFFR minus IORB spread in percentage points
interpretationYesPolicy stance interpretation

Schema Changelog

Changes observed during successful MCP inspections.

  1. First observed

TDQS

A4.5/5.0
Behavior4/5

Does the description disclose side effects, auth requirements, rate limits, or destructive behavior?

Annotations already cover read-only, idempotent, and non-destructive behavior. The description adds value by noting the interpretation component, the normal operating band, and the FRED source, offering useful context about data provenance and analytical content beyond the structured fields.

Agents need to know what a tool does to the world before calling it. Descriptions should go beyond structured annotations to explain consequences.

Conciseness5/5

Is the description appropriately sized, front-loaded, and free of redundancy?

The description is three concise sentences that front-load the core function, then add interpretation context and source. Every sentence earns its place with no redundant restatement of the title.

Shorter descriptions cost fewer tokens and are easier for agents to parse. Every sentence should earn its place.

Completeness5/5

Given the tool's complexity, does the description cover enough for an agent to succeed on first attempt?

This is a simple zero-parameter tool with rich annotations and an output schema. The description covers purpose, interpretation behavior, and source, which is sufficient for an agent to select and invoke the tool correctly.

Complex tools with many parameters or behaviors need more documentation. Simple tools need less. This dimension scales expectations accordingly.

Parameters4/5

Does the description clarify parameter syntax, constraints, interactions, or defaults beyond what the schema provides?

The tool has zero parameters and schema coverage is trivially 100%. With no parameters to document, the baseline score of 4 applies, and the description appropriately needs no parameter details.

Input schemas describe structure but not intent. Descriptions should explain non-obvious parameter relationships and valid value ranges.

Purpose5/5

Does the description clearly state what the tool does and how it differs from similar tools?

The description uses the specific verb 'Returns' and identifies the exact resource: the spread between EFFR and IORB. It also mentions the interpretive output and source, clearly distinguishing it from sibling data-retrieval tools.

Agents choose between tools based on descriptions. A clear purpose with a specific verb and resource helps agents select the right tool.

Usage Guidelines4/5

Does the description explain when to use this tool, when not to, or what alternatives exist?

The description provides clear context on what the tool measures and its policy-stance interpretation, which implies when it should be used. It does not explicitly name alternatives or exclusions, but no sibling tool directly overlaps with this specific spread calculation.

Agents often have multiple tools that could apply. Explicit usage guidance like "use X instead of Y when Z" prevents misuse.

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