Financial Literature

Compare: what does the combination make possible?

Pick two or three sources. The page lines them up — coverage, frequency, history, access — and then says what the set can do that no single source can: the analyses it unlocks, the questions it answers, the gaps it leaves.

Curated comparison

Policy rate and inflation for a country

“I need the policy rate and inflation for the US, the euro area and Korea” — Three sources answer the same question for three regions. Pick by history, frequency and how much work the pull is; the broker's verdict is at the bottom of each column.

FREDFederal Reserve Bank of St. LouisECB Data PortalEuropean Central BankBOK ECOSBank of Korea
Policy rate seriesFEDFUNDS · DFEDTARUFM.B.U2.EUR.4F.KR.DFR.LEV722Y001 · 0101000
Inflation seriesCPIAUCSL (index → pct_change(12))ICP.M.U2.N.000000.4.ANR (already a rate)901Y009 · 0 (index, 2020 = 100)
Frequencydaily / monthlydaily / monthlymonthly
History1954 → (rate) · 1947 → (CPI)1999 →1999 → (rate) · 1965 → (CPI)
Pull effortone CSV URL, no keyone CSV URL, no key; long keysfree key + numeric item codes; the card maps them
Reading trapCPI is an index; take the 12-month changethree ECB rates — quote the deposit rateindex rebased every five years (2020 = 100)
Broker's verdictDefault. Longest history, simplest pull. Use ALFRED when you need what was known at the time.Use it. Nothing else has the euro-area detail; the key length is the price.Use it for Korea. Monthly only for CPI; for daily KRW use FRED's DEXKOUS or the ECOS daily table.

The range of possibilities

Joint coverage · asset classes
  • fx FRED · ECB Data Portal · BOK ECOS
  • macro FRED · ECB Data Portal · BOK ECOS
  • prices FRED · ECB Data Portal · BOK ECOS
  • rates FRED · ECB Data Portal · BOK ECOS
  • money ECB Data Portal · BOK ECOS
  • labour FRED
Joint coverage · regions
  • euro area ECB Data Portal
  • European Union ECB Data Portal
  • global FRED
  • Korea BOK ECOS
  • United States FRED
Cross-checkable (two or more sources)
  • fx FRED · ECB Data Portal · BOK ECOS
  • macro FRED · ECB Data Portal · BOK ECOS
  • prices FRED · ECB Data Portal · BOK ECOS
  • rates FRED · ECB Data Portal · BOK ECOS
  • money ECB Data Portal · BOK ECOS
Frequency

Finest in the set: daily. Finest at which all 3 line up: daily.

FRED daily→annual · ECB Data Portal daily→annual · BOK ECOS daily→annual

History

Joint window from 1999; the longest single source is FRED (1947).

FRED 1947 · ECB Data Portal 1999 · BOK ECOS 1960

Access

No key: FRED, ECB Data Portal. Free key: BOK ECOS. Formats all share: json.

FRED: CSV: no key · API: free key, 120 requests/min · ECB Data Portal: No key · fair use; long queries can time out · BOK ECOS: Free key · 10,000 calls/day; the 'sample' key answers at most 10 rows per query

Analyses this combination makes possible
Real policy ratePolicy rate minus inflation: whether money is tight or loose in real terms, the number central banks actually argue about.policy rate: FRED, ECB Data Portal, BOK ECOS · consumer prices (CPI): FRED, ECB Data Portal, BOK ECOS · United States, euro area, KoreaTrap: Use the 12-month CPI change, not the index, and the same month for both.
Real rates across regionsWhich central bank is tightest in real terms — the carry and currency story in one chart.policy rate: FRED, ECB Data Portal, BOK ECOS · consumer prices (CPI): FRED, ECB Data Portal, BOK ECOS · United States, euro area, KoreaTrap: Inflation definitions differ (HICP vs CPI vs PCE); say which.
Recession watchThe two US series with the best record: the curve leads by a year or more, claims confirm within weeks.yield-curve spread: FRED · jobless claims: FREDTrap: The un-inversion, not the inversion, is the historically loud moment.
Build the curve yourselfA 2s10s spread for any country with both yields — the same recession signal outside the US.2-year yield: FRED · 10-year yield: FRED, ECB Data Portal, BOK ECOS · United StatesTrap: Monthly averages and daily closes do not mix; resample first.
Dollar strong or currency weak?Whether a currency's move is its own story or the dollar's — one series answers each half.broad dollar index: FRED · exchange rate vs USD: FRED, ECB Data Portal, BOK ECOSTrap: Index (broad dollar) vs level (won per dollar): compare percent changes, not levels.
Inflation across regionsWho is ahead in the disinflation, on comparable 12-month rates.consumer prices (CPI): FRED, ECB Data Portal, BOK ECOS · United States, euro area, KoreaTrap: Base effects: a big month dropping out a year later moves the rate with no new inflation.
Growth against jobsOkun's law for the country in question: how much growth it takes to bring unemployment down.GDP: FRED · unemployment: FRED · United StatesTrap: GDP is quarterly, unemployment monthly — average the months to quarters.
Money-market stressSOFR against the policy rate: funding stress shows as SOFR pinned above the ceiling for days.overnight funding rate: FRED · policy rate: FRED, ECB Data Portal, BOK ECOS · United StatesTrap: Quarter-end and tax-date spikes are plumbing, not stress.
Concepts covered
  • exchange rate vs USD ×3
  • 10-year yield ×3
  • consumer prices (CPI) ×3
  • policy rate ×3
  • bank lending and credit ×2
  • money supply ×2
  • 2-year yield
  • broad dollar index
  • GDP
  • house prices
  • jobless claims
  • overnight funding rate
  • unemployment
  • wages
Questions this set answers · 1 need the combination
  • Is the US yield curve inverted?
  • Is the ECB rate above or below inflation?
  • What is the Bank of Korea's base rate and its real level?
  • Is a recession coming?
  • Is the won weak, or is the dollar strong? needs FRED + BOK ECOS
  • Are euro-area banks lending?
  • The number they saw at the time, before revisions?
Not in this set

Recompute with the picker → Members' notebook →

Curated comparison

Recession watch: the curve and the claims

“Which two or three US series have the best record at calling the turn?” — The curve leads by a year or more; claims confirm within weeks; the Treasury's daily curve shows every maturity so you can pick the spread the models use.

FREDFederal Reserve Bank of St. LouisBLS APIUS Bureau of Labor StatisticsUS Treasury dataUS Department of the Treasury
CurveT10Y2Y · T10Y3Mevery maturity, daily CSV
LabourIC4WSA (claims) · UNRATELNS14000000 · CES0000000001 (release morning)
Frequencydaily / weekly / monthlymonthly (weekly claims are DOL)daily
History1962 → (yields) · 1967 → (claims)1948 →1990 →
Pull effortone CSV URL, no keyJSON, no key, 25/dayone CSV per year, no key
Reading trapthe un-inversion is the loud momentNSA vs SA series idspar yields, not zero-coupon
Broker's verdictDefault for the chart: T10Y2Y and IC4WSA in one URL.Release morning only — the official print an hour before the mirror.When you want the 3-month–10-year spread or the whole curve, not just 2s10s.

The range of possibilities

Joint coverage · asset classes
  • macro FRED · BLS API · US Treasury data
  • labour FRED · BLS API
  • prices FRED · BLS API
  • rates FRED · US Treasury data
  • fx FRED
Joint coverage · regions
  • United States FRED · BLS API · US Treasury data
  • global FRED
Cross-checkable (two or more sources)
  • macro FRED · BLS API · US Treasury data
  • labour FRED · BLS API
  • prices FRED · BLS API
  • rates FRED · US Treasury data
  • United States FRED · BLS API · US Treasury data
Frequency

Finest in the set: daily. Finest at which all 3 line up: monthly.

FRED daily→annual · BLS API monthly→annual · US Treasury data daily→monthly

History

Joint window from 1990; the longest single source is BLS API (1913).

FRED 1947 · BLS API 1913 · US Treasury data 1990

Access

No key: FRED, BLS API, US Treasury data. Formats all share: csv, json.

FRED: CSV: no key · API: free key, 120 requests/min · BLS API: No key: 25 queries/day, 10 years per query · free key: 500/day, 20 years · US Treasury data: No key · no published limit; FiscalData paginates at 10,000 rows

Analyses this combination makes possible
Real policy ratePolicy rate minus inflation: whether money is tight or loose in real terms, the number central banks actually argue about.policy rate: FRED · consumer prices (CPI): FRED, BLS API · United StatesTrap: Use the 12-month CPI change, not the index, and the same month for both.
Recession watchThe two US series with the best record: the curve leads by a year or more, claims confirm within weeks.yield-curve spread: FRED · jobless claims: FREDTrap: The un-inversion, not the inversion, is the historically loud moment.
Build the curve yourselfA 2s10s spread for any country with both yields — the same recession signal outside the US.2-year yield: FRED, US Treasury data · 10-year yield: FRED, US Treasury data · United StatesTrap: Monthly averages and daily closes do not mix; resample first.
Dollar strong or currency weak?Whether a currency's move is its own story or the dollar's — one series answers each half.broad dollar index: FRED · exchange rate vs USD: FREDTrap: Index (broad dollar) vs level (won per dollar): compare percent changes, not levels.
Growth against jobsOkun's law for the country in question: how much growth it takes to bring unemployment down.GDP: FRED · unemployment: FRED, BLS API · United StatesTrap: GDP is quarterly, unemployment monthly — average the months to quarters.
Money-market stressSOFR against the policy rate: funding stress shows as SOFR pinned above the ceiling for days.overnight funding rate: FRED · policy rate: FRED · United StatesTrap: Quarter-end and tax-date spikes are plumbing, not stress.
Concepts covered
  • consumer prices (CPI) ×2
  • exchange rate vs USD
  • 10-year yield ×2
  • 2-year yield ×2
  • unemployment ×2
  • wages ×2
  • bill rate
  • broad dollar index
  • GDP
  • government debt
  • house prices
  • interest on the debt
  • jobless claims
  • money supply
Questions this set answers · 3 need the combination
  • Is the US yield curve inverted?
  • Where is the whole Treasury curve today?
  • What does the US government pay on its debt?
  • What did US CPI do last month? needs BLS API + FRED
  • Is shelter inflation cooling?
  • Are wages keeping up with prices? needs FRED + BLS API
  • Is the job market cracking? needs FRED + BLS API
  • Is a recession coming?
  • The number they saw at the time, before revisions?
Not in this set

Recompute with the picker → Members' notebook →

Curated comparison

Is the won weak or the dollar strong?

“Separate the won's own move from the dollar's” — One series answers each half — the broad dollar index and won per dollar — and a third gives the ECB's reference fix for the cross-check. Neither half answers both.

FREDFederal Reserve Bank of St. LouisBOK ECOSBank of KoreaFrankfurterFrankfurter (open source, ECB data)
Dollar sideDTWEXBGS (broad dollar, index)latest?base=USD (30 crosses)
Won sideDEXKOUS (NY noon)731Y001 · 0000001 (Seoul close)..?base=USD&symbols=KRW (ECB 16:00 CET fix)
Frequencydailydailydaily, one fix
History2006 → (index) · 1981 → (won)1964 →1999 →
Pull effortone CSV URL, no keyfree key ('sample' for tests)one JSON URL, no key
Reading trapindex vs level: compare percent changeswon per dollar: rising = weaker wonafternoon-Europe fix, stale for an Asian morning
Broker's verdictDefault for the dollar half; DTWEXBGS is the only broad index that is free and daily.Default for the won half — the Seoul close is the number Korean readers know.The cross-check and the thirty-currency table; not for an Asian-morning newsletter.

The range of possibilities

Joint coverage · asset classes
  • fx FRED · BOK ECOS · Frankfurter
  • macro FRED · BOK ECOS
  • prices FRED · BOK ECOS
  • rates FRED · BOK ECOS
  • labour FRED
  • money BOK ECOS
Joint coverage · regions
  • global FRED · Frankfurter
  • euro area Frankfurter
  • Korea BOK ECOS
  • United States FRED
Cross-checkable (two or more sources)
  • fx FRED · BOK ECOS · Frankfurter
  • macro FRED · BOK ECOS
  • prices FRED · BOK ECOS
  • rates FRED · BOK ECOS
  • global FRED · Frankfurter
Frequency

Finest in the set: daily. Finest at which all 3 line up: daily.

FRED daily→annual · BOK ECOS daily→annual · Frankfurter daily

History

Joint window from 1999; the longest single source is FRED (1947).

FRED 1947 · BOK ECOS 1960 · Frankfurter 1999

Access

No key: FRED, Frankfurter. Free key: BOK ECOS. Formats all share: json.

FRED: CSV: no key · API: free key, 120 requests/min · BOK ECOS: Free key · 10,000 calls/day; the 'sample' key answers at most 10 rows per query · Frankfurter: No key · no published limit; self-hostable

Analyses this combination makes possible
Real policy ratePolicy rate minus inflation: whether money is tight or loose in real terms, the number central banks actually argue about.policy rate: FRED, BOK ECOS · consumer prices (CPI): FRED, BOK ECOS · United States, KoreaTrap: Use the 12-month CPI change, not the index, and the same month for both.
Real rates across regionsWhich central bank is tightest in real terms — the carry and currency story in one chart.policy rate: FRED, BOK ECOS · consumer prices (CPI): FRED, BOK ECOS · United States, KoreaTrap: Inflation definitions differ (HICP vs CPI vs PCE); say which.
Recession watchThe two US series with the best record: the curve leads by a year or more, claims confirm within weeks.yield-curve spread: FRED · jobless claims: FREDTrap: The un-inversion, not the inversion, is the historically loud moment.
Build the curve yourselfA 2s10s spread for any country with both yields — the same recession signal outside the US.2-year yield: FRED · 10-year yield: FRED, BOK ECOS · United StatesTrap: Monthly averages and daily closes do not mix; resample first.
Dollar strong or currency weak?Whether a currency's move is its own story or the dollar's — one series answers each half.broad dollar index: FRED · exchange rate vs USD: FRED, BOK ECOS, FrankfurterTrap: Index (broad dollar) vs level (won per dollar): compare percent changes, not levels.
Inflation across regionsWho is ahead in the disinflation, on comparable 12-month rates.consumer prices (CPI): FRED, BOK ECOS · United States, KoreaTrap: Base effects: a big month dropping out a year later moves the rate with no new inflation.
Growth against jobsOkun's law for the country in question: how much growth it takes to bring unemployment down.GDP: FRED · unemployment: FRED · United StatesTrap: GDP is quarterly, unemployment monthly — average the months to quarters.
Money-market stressSOFR against the policy rate: funding stress shows as SOFR pinned above the ceiling for days.overnight funding rate: FRED · policy rate: FRED, BOK ECOS · United StatesTrap: Quarter-end and tax-date spikes are plumbing, not stress.
Concepts covered
  • exchange rate vs USD ×3
  • 10-year yield ×2
  • consumer prices (CPI) ×2
  • policy rate ×2
  • 2-year yield
  • bank lending and credit
  • broad dollar index
  • cross rates
  • GDP
  • house prices
  • jobless claims
  • money supply
  • overnight funding rate
  • unemployment
Questions this set answers · 2 need the combination
  • Is the US yield curve inverted?
  • What is the Bank of Korea's base rate and its real level?
  • Is a recession coming?
  • Is the won weak, or is the dollar strong? needs FRED + BOK ECOS
  • A daily FX series for any major pair, no key? needs Frankfurter + FRED
  • The number they saw at the time, before revisions?
Not in this set

Recompute with the picker → Members' notebook →