Abbreviations

Monetary Policy Report submitted to the Congress on February 19, 2021, pursuant to section 2B of the Federal Reserve Act

AFE
advanced foreign economy
BLS
Bureau of Labor Statistics
CARES Act
Coronavirus Aid, Relief, and Economic Security Act
CES
Current Employment Statistics
C&I
commercial and industrial
COVID-19
coronavirus disease 2019
CPFF
Commercial Paper Funding Facility
CPI
consumer price index
DPI
disposable personal income
ELB
effective lower bound
EME
emerging market economy
EPOP ratio
employment-to-population ratio
FIMA
Foreign and International Monetary Authorities
FOMC
Federal Open Market Committee; also, the Committee
GDP
gross domestic product
G-SIBs
global systemically important banks
LFPR
labor force participation rate
Main Street
Main Street Lending Program
MBS
mortgage-backed securities
MMLF
Money Market Mutual Fund Lending Facility
OPEC
Organization of the Petroleum Exporting Countries
PCE
personal consumption expenditures
PDCF
Primary Dealer Credit Facility
PPPLF
Paycheck Protection Program Liquidity Facility
QSS
Quarterly Services Survey
repo
repurchase agreement
RRE
residential real estate
SBA
Small Business Administration
SEP
Summary of Economic Projections
TIPS
Treasury Inflation-Protected Securities
VIX
implied volatility for the S&P 500 index
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Last Update: February 19, 2021