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Source: Federal Reserve Bank of St. Louis
Release: St. Louis Fed Financial Stress Index
Units: Index, Not Seasonally Adjusted
Frequency: Weekly, Ending Friday
The methodology for the St. Louis Fed's Financial Stress Index was revised and this series is discontinued. The new version, STLFSI3, can be found here.
The STLFSI measures the degree of financial stress in the markets and is constructed from 18 weekly data series: seven interest rate series, six yield spreads and five other indicators. Each of these variables captures some aspect of financial stress. Accordingly, as the level of financial stress in the economy changes, the data series are likely to move together.
How to Interpret the Index:
The average value of the index, which begins in late 1993, is designed to be zero. Thus, zero is viewed as representing normal financial market conditions. Values below zero suggest below-average financial market stress, while values above zero suggest above-average financial market stress.
More information:
For additional information on the STLFSI and its construction, see "Measuring Financial Market Stress" and the related appendix.
See this list of the components that are used to construct the STLFSI.
As of 07/15/2010 the Vanguard Financial Exchange-Traded Fund series has been replaced with the S&P 500 Financials Index. This change was made to facilitate a more timely and automated updating of the FSI. Switching from the Vanguard series to the S&P series produced no meaningful change in the index.
Copyright, 2016, Federal Reserve Bank of St. Louis.
Federal Reserve Bank of St. Louis, St. Louis Fed Financial Stress Index (DISCONTINUED) [STLFSI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/STLFSI, May 17, 2024.
Source: Federal Reserve Bank of Kansas City
Release: Kansas City Financial Stress Index
Units: Index, Not Seasonally Adjusted
Frequency: Monthly
Starting with the September 14, 2021, release, the SNL U.S. Bank index, an underlying index used in the calculation of the KCFSI, has been replaced with the S&P U.S. BMI Banks Index on the S&P Capital IQ platform. As the replacement index provides limited historical data, the KCFSI uses predicted values for the S&P U.S. BMI Banks Index between 1989 and 2004, resulting from a linear regression of the replacement index against the original index. This methodology produces highly correlated values of the current KCFSI with previous values, suggesting a minimal effect on the KCFSI. To obtain further information please see: Financial Stress: What Is It, How Can It Be Measured, and Why Does It Matter?.
Federal Reserve Bank of Kansas City, Kansas City Financial Stress Index [KCFSI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/KCFSI, May 17, 2024.
Source: S&P Dow Jones Indices LLC
Release: Standard & Poors
Units: Index, Not Seasonally Adjusted
Frequency: Daily, Close
The observations for the S&P 500 represent the daily index value at market close. The market typically closes at 4 PM ET, except for holidays when it sometimes closes early.
The Federal Reserve Bank of St. Louis and S&P Dow Jones Indices LLC have reached a new agreement on the use of Standard & Poors and Dow Jones Averages series in FRED. FRED and its associated services will include 10 years of daily history for Standard & Poors and Dow Jones Averages series.
The S&P 500 is regarded as a gauge of the large cap U.S. equities market. The index includes 500 leading companies in leading industries of the U.S. economy, which are publicly held on either the NYSE or NASDAQ, and covers 75% of U.S. equities. Since this is a price index and not a total return index, the S&P 500 index here does not contain dividends.
Copyright © 2016, S&P Dow Jones Indices LLC. All rights reserved. Reproduction of S&P 500 in any form is prohibited except with the prior written permission of S&P Dow Jones Indices LLC ("S&P"). S&P does not guarantee the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions, regardless of the cause or for the results obtained from the use of such information. S&P DISCLAIMS ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE. In no event shall S&P be liable for any direct, indirect, special or consequential damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with subscriber's or others' use of S&P 500.
Permission to reproduce S&P 500 can be requested from index_services@spdji.com. More contact details are available here, including phone numbers for all regional offices.
S&P Dow Jones Indices LLC, S&P 500 [SP500], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/SP500, May 17, 2024.
Source: U.S. Bureau of Labor Statistics
Release: Consumer Price Index
Units: Index 1982-1984=100, Seasonally Adjusted
Frequency: Monthly
The Consumer Price Index for All Urban Consumers: All Items (CPIAUCSL) is a price index of a basket of goods and services paid by urban consumers. Percent changes in the price index measure the inflation rate between any two time periods. The most common inflation metric is the percent change from one year ago. It can also represent the buying habits of urban consumers. This particular index includes roughly 88 percent of the total population, accounting for wage earners, clerical workers, technical workers, self-employed, short-term workers, unemployed, retirees, and those not in the labor force.
The CPIs are based on prices for food, clothing, shelter, and fuels; transportation fares; service fees (e.g., water and sewer service); and sales taxes. Prices are collected monthly from about 4,000 housing units and approximately 26,000 retail establishments across 87 urban areas. To calculate the index, price changes are averaged with weights representing their importance in the spending of the particular group. The index measures price changes (as a percent change) from a predetermined reference date. In addition to the original unadjusted index distributed, the Bureau of Labor Statistics also releases a seasonally adjusted index. The unadjusted series reflects all factors that may influence a change in prices. However, it can be very useful to look at the seasonally adjusted CPI, which removes the effects of seasonal changes, such as weather, school year, production cycles, and holidays.
The CPI can be used to recognize periods of inflation and deflation. Significant increases in the CPI within a short time frame might indicate a period of inflation, and significant decreases in CPI within a short time frame might indicate a period of deflation. However, because the CPI includes volatile food and oil prices, it might not be a reliable measure of inflationary and deflationary periods. For a more accurate detection, the core CPI (CPILFESL) is often used. When using the CPI, please note that it is not applicable to all consumers and should not be used to determine relative living costs. Additionally, the CPI is a statistical measure vulnerable to sampling error since it is based on a sample of prices and not the complete average.
For more information on the consumer price indexes, see:
Bureau of Economic Analysis. "CPI Detailed Report." 2013.
Handbook of Methods
Understanding the CPI: Frequently Asked Questions
U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers: All Items in U.S. City Average [CPIAUCSL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CPIAUCSL, May 17, 2024.
St. Louis Fed Financial Stress Index (DISCONTINUED)
Weekly, Not Seasonally Adjusted Weekly, Not Seasonally AdjustedConsumer Price Index for All Urban Consumers: All Items in U.S. City Average
Monthly, Not Seasonally Adjusted Semiannual, Not Seasonally Adjusted