Abbreviations

Monetary Policy Report submitted to the Congress on February 23, 2018, pursuant to section 2B of the Federal Reserve Act

AFE
advanced foreign economy
BOE
Bank of England
C&I
commercial and industrial
EME
emerging market economy
FOMC
Federal Open Market Committee; also, the Committee
GDP
gross domestic product
LFPR
labor force participation rate
MBS
mortgage-backed securities
Michigan survey
University of Michigan Surveys of Consumers
ON RRP
overnight reverse repurchase agreement
OPEC
Organization of the Petroleum Exporting Countries
PCE
personal consumption expenditures
SEP
Summary of Economic Projections
SLOOS
Senior Loan Officer Opinion Survey on Bank Lending Practices
SOMA
System Open Market Account
S&P
Standard & Poor's
TCJA
Tax Cuts and Jobs Act
TIPS
Treasury Inflation-Protected Securities
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Last Update: February 23, 2018