FRB: Monetary Policy Report to the Congress--February 27, 2008

Monetary Policy Report submitted to the Congress on February 27, 2008, pursuant to section 2B of the Federal Reserve Act

Table for figure of Implied S&P Volatility, 2000-08
Percent
Period	Implied S&P volatility
7 January 2000	21.72
14 January 2000	19.66
21 January 2000	20.82
28 January 2000	26.14
4 February 2000	21.54
11 February 2000	24.42
18 February 2000	26.00
25 February 2000	25.20
3 March 2000	19.21
10 March 2000	21.24
17 March 2000	22.37
24 March 2000	23.31
31 March 2000	23.67
7 April 2000	24.39
14 April 2000	33.49
21 April 2000	25.85
28 April 2000	26.20
5 May 2000	27.53
12 May 2000	26.05
19 May 2000	25.44
26 May 2000	24.47
2 June 2000	21.48
9 June 2000	22.14
16 June 2000	20.50
23 June 2000	22.34
30 June 2000	19.54
7 July 2000	19.22
14 July 2000	19.32
21 July 2000	18.94
28 July 2000	20.84
4 August 2000	18.62
11 August 2000	18.55
18 August 2000	17.05
25 August 2000	16.53
1 September 2000	17.53
8 September 2000	18.46
15 September 2000	18.52
22 September 2000	20.74
29 September 2000	20.57
6 October 2000	22.71
13 October 2000	27.60
20 October 2000	24.24
27 October 2000	26.47
3 November 2000	23.67
10 November 2000	28.53
17 November 2000	24.81
24 November 2000	26.00
1 December 2000	27.48
8 December 2000	22.41
15 December 2000	26.55
22 December 2000	27.55
29 December 2000	26.85
5 January 2001	28.67
12 January 2001	24.56
19 January 2001	23.24
26 January 2001	22.57
2 February 2001	23.19
9 February 2001	22.03
16 February 2001	22.12
23 February 2001	27.21
2 March 2001	27.43
9 March 2001	25.62
16 March 2001	29.91
23 March 2001	30.45
30 March 2001	28.64
6 April 2001	31.69
13 April 2001	26.12
20 April 2001	25.38
27 April 2001	26.61
4 May 2001	23.91
11 May 2001	23.54
18 May 2001	21.23
25 May 2001	20.60
1 June 2001	21.59
8 June 2001	19.92
15 June 2001	22.81
22 June 2001	20.02
29 June 2001	19.06
6 July 2001	21.63
13 July 2001	21.14
20 July 2001	22.34
27 July 2001	22.00
3 August 2001	19.89
10 August 2001	20.55
17 August 2001	23.84
24 August 2001	19.71
31 August 2001	24.92
7 September 2001	30.99
14 September 2001	31.84
21 September 2001	42.66
28 September 2001	31.93
5 October 2001	33.39
12 October 2001	35.27
19 October 2001	34.11
26 October 2001	28.42
2 November 2001	30.71
9 November 2001	27.44
16 November 2001	25.07
23 November 2001	23.25
30 November 2001	24.92
7 December 2001	23.49
14 December 2001	24.63
21 December 2001	22.50
28 December 2001	21.40
4 January 2002	20.45
11 January 2002	22.60
18 January 2002	22.52
25 January 2002	21.01
1 February 2002	21.12
8 February 2002	23.26
15 February 2002	22.37
22 February 2002	22.86
1 March 2002	19.96
8 March 2002	19.27
15 March 2002	18.42
22 March 2002	17.77
29 March 2002	17.40
5 April 2002	19.13
12 April 2002	19.42
19 April 2002	18.30
26 April 2002	22.14
3 May 2002	20.19
10 May 2002	22.41
17 May 2002	17.70
24 May 2002	18.90
31 May 2002	19.98
7 June 2002	23.51
14 June 2002	25.96
21 June 2002	27.23
28 June 2002	25.40
5 July 2002	27.11
12 July 2002	32.94
19 July 2002	38.17
26 July 2002	35.51
2 August 2002	41.29
9 August 2002	35.33
16 August 2002	28.81
23 August 2002	29.32
30 August 2002	32.64
6 September 2002	36.33
13 September 2002	35.82
20 September 2002	38.98
27 September 2002	36.97
4 October 2002	39.46
11 October 2002	35.70
18 October 2002	33.53
25 October 2002	30.00
1 November 2002	29.30
8 November 2002	29.41
15 November 2002	26.65
22 November 2002	23.16
29 November 2002	27.50
6 December 2002	28.88
13 December 2002	28.18
20 December 2002	26.71
27 December 2002	29.55
3 January 2003	24.68
10 January 2003	24.32
17 January 2003	25.70
24 January 2003	31.51
31 January 2003	31.17
7 February 2003	34.01
14 February 2003	32.62
21 February 2003	30.25
28 February 2003	29.63
7 March 2003	31.08
14 March 2003	30.98
21 March 2003	28.67
28 March 2003	27.75
4 April 2003	29.13
11 April 2003	24.44
18 April 2003	21.50
25 April 2003	20.80
2 May 2003	20.63
9 May 2003	19.69
16 May 2003	18.40
23 May 2003	19.17
30 May 2003	19.47
6 June 2003	21.25
13 June 2003	20.66
20 June 2003	19.14
27 June 2003	19.16
4 July 2003	19.39
11 July 2003	18.47
18 July 2003	19.11
25 July 2003	17.75
1 August 2003	20.75
8 August 2003	19.59
15 August 2003	18.27
22 August 2003	18.55
29 August 2003	18.63
5 September 2003	18.17
12 September 2003	18.68
19 September 2003	19.08
26 September 2003	22.23
3 October 2003	19.50
10 October 2003	18.45
17 October 2003	17.62
24 October 2003	17.71
31 October 2003	16.10
7 November 2003	16.93
14 November 2003	16.94
21 November 2003	18.98
28 November 2003	16.32
5 December 2003	17.09
12 December 2003	16.41
19 December 2003	16.42
26 December 2003	17.45
2 January 2004	18.22
9 January 2004	16.75
16 January 2004	15.00
23 January 2004	15.50
30 January 2004	16.63
6 February 2004	16.00
13 February 2004	15.63
20 February 2004	16.25
27 February 2004	14.55
5 March 2004	14.48
12 March 2004	18.30
19 March 2004	19.15
26 March 2004	17.33
2 April 2004	15.64
9 April 2004	16.26
16 April 2004	14.94
23 April 2004	14.01
30 April 2004	16.82
7 May 2004	18.13
14 May 2004	18.47
21 May 2004	18.49
28 May 2004	15.50
4 June 2004	16.78
11 June 2004	15.04
18 June 2004	14.99
25 June 2004	15.19
2 July 2004	15.08
9 July 2004	15.78
16 July 2004	14.34
23 July 2004	16.50
30 July 2004	15.32
6 August 2004	19.34
13 August 2004	17.98
20 August 2004	16.00
27 August 2004	14.71
3 September 2004	13.91
10 September 2004	13.76
17 September 2004	14.83
24 September 2004	14.28
1 October 2004	12.75
8 October 2004	15.05
15 October 2004	15.04
22 October 2004	15.28
29 October 2004	16.27
5 November 2004	13.84
12 November 2004	13.33
19 November 2004	13.50
26 November 2004	12.79
3 December 2004	12.96
10 December 2004	12.76
17 December 2004	11.95
24 December 2004	11.23
31 December 2004	13.29
7 January 2005	13.49
14 January 2005	12.43
21 January 2005	14.36
28 January 2005	13.24
4 February 2005	11.21
11 February 2005	11.43
18 February 2005	11.33
25 February 2005	11.49
4 March 2005	11.94
11 March 2005	12.80
18 March 2005	13.14
25 March 2005	13.42
1 April 2005	14.09
8 April 2005	12.62
15 April 2005	17.74
22 April 2005	15.38
29 April 2005	15.31
6 May 2005	14.05
13 May 2005	16.32
20 May 2005	13.14
27 May 2005	12.15
3 June 2005	12.15
10 June 2005	11.96
17 June 2005	11.48
24 June 2005	12.18
1 July 2005	11.40
8 July 2005	11.45
15 July 2005	10.33
22 July 2005	10.52
29 July 2005	11.57
5 August 2005	12.48
12 August 2005	12.74
19 August 2005	13.42
26 August 2005	13.72
2 September 2005	13.57
9 September 2005	11.98
16 September 2005	11.22
23 September 2005	12.96
30 September 2005	11.92
7 October 2005	14.59
14 October 2005	14.87
21 October 2005	16.13
28 October 2005	14.25
4 November 2005	13.17
11 November 2005	11.90
18 November 2005	11.12
25 November 2005	10.88
2 December 2005	11.01
9 December 2005	11.69
16 December 2005	10.68
23 December 2005	10.27
30 December 2005	12.07
6 January 2006	11.00
13 January 2006	11.23
20 January 2006	14.56
27 January 2006	11.97
3 February 2006	12.96
10 February 2006	12.87
17 February 2006	12.01
24 February 2006	11.46
3 March 2006	11.96
10 March 2006	13.59
17 March 2006	12.12
24 March 2006	11.19
31 March 2006	11.39
7 April 2006	12.26
14 April 2006	12.38
21 April 2006	11.59
28 April 2006	11.59
5 May 2006	11.62
12 May 2006	13.59
19 May 2006	17.18
26 May 2006	14.26
2 June 2006	14.32
9 June 2006	18.12
16 June 2006	17.25
23 June 2006	15.89
30 June 2006	13.08
7 July 2006	13.97
14 July 2006	18.05
21 July 2006	17.53
28 July 2006	14.33
4 August 2006	14.34
11 August 2006	14.30
18 August 2006	11.64
25 August 2006	12.31
1 September 2006	11.96
8 September 2006	13.16
15 September 2006	11.78
22 September 2006	12.60
29 September 2006	11.98
6 October 2006	11.56
13 October 2006	10.75
20 October 2006	10.63
27 October 2006	10.80
3 November 2006	11.16
10 November 2006	10.79
17 November 2006	10.05
24 November 2006	10.73
1 December 2006	11.66
8 December 2006	12.07
15 December 2006	10.05
22 December 2006	11.36
29 December 2006	11.56
5 January 2007	12.14
12 January 2007	10.15
19 January 2007	10.40
26 January 2007	11.13
2 February 2007	10.08
9 February 2007	10.44
16 February 2007	10.02
23 February 2007	10.58
2 March 2007	18.61
9 March 2007	14.09
16 March 2007	16.79
23 March 2007	12.95
30 March 2007	14.64
6 April 2007	13.23
13 April 2007	12.20
20 April 2007	12.07
27 April 2007	12.45
4 May 2007	12.91
11 May 2007	12.95
18 May 2007	12.76
25 May 2007	13.34
1 June 2007	12.78
8 June 2007	14.84
15 June 2007	13.94
22 June 2007	15.75
29 June 2007	16.23
6 July 2007	14.72
13 July 2007	15.15
20 July 2007	17.18
27 July 2007	24.17
3 August 2007	25.16
10 August 2007	28.30
17 August 2007	29.99
24 August 2007	20.72
31 August 2007	23.38
7 September 2007	26.23
14 September 2007	24.92
21 September 2007	19.00
28 September 2007	18.00
5 October 2007	16.91
12 October 2007	17.73
19 October 2007	22.96
26 October 2007	19.56
2 November 2007	23.01
9 November 2007	28.50
16 November 2007	25.49
23 November 2007	25.61
30 November 2007	22.87
7 December 2007	20.85
14 December 2007	23.27
21 December 2007	18.47
28 December 2007	20.74
4 January 2008	23.94
11 January 2008	23.68
18 January 2008	27.18
25 January 2008	29.08
1 February 2008	24.02
8 February 2008	28.01
15 February 2008	25.06
21 February 2008	25.12

Note: The data are weekly and extend through February 21, 2008. The series shown--the VIX--is the implied thirty-day volatility of the S&P 500 stock price index as calculated from a weighted average of options prices.

Source: Chicago Board Options Exchange.

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