Lesson 1Bureau of Economic Analysis (BEA): accessin' GDP data, real vs nominal GDP, quarterly annualization, revisionsLearn how fi access BEA GDP releases, distinguish nominal from real GDP, understand quarterly annualized growth rates, an' track revisions across vintages fi evaluate di evolvin' macro narrative.
Navigatin' BEA GDP data portalsReal vs nominal GDP an' deflatorsQuarterly annualized growth calculationsGDP components an' expenditure sharesTrackin' GDP revisions ova timeLesson 2Inflation datasets: CPI an' PCE—definitions, core vs headline, measurement differences, locatin' time seriesExplore CPI an' PCE inflation concepts, headline versus core measures, coverage an' weightin' differences, an' how fi locate, download, an' interpret official inflation time series fi macro an' investment decision-makin'.
Definitions of CPI an' PCE price indexesHeadline vs core: wha' is excluded an' whyMeasurement differences an' data sourcesLocatin' CPI an' PCE series in FREDInterpretin' inflation trends an' volatilityLesson 3International organizations an' cross-checks: IMF an' World Bank time series fi context an' consistencyUnderstand how IMF an' World Bank databases complement national sources, how fi pull comparable cross-country time series, an' how fi cross-check levels, growth rates, an' definitions fi ensure consistency in macro analysis.
IMF Data Portal an' key macro datasetsWorld Bank WDI an' topic-based searchesHarmonizin' country codes an' unitsComparin' series across multiple providersSpotin' inconsistencies an' data breaksLesson 4Leadin' indicators databases: ISM PMI, Conference Board LEI, consumer confidence indices—where fi find an' how fi useExamine major leadin' indicator datasets such as ISM PMI, Conference Board LEI, an' consumer confidence indices, learnin' where fi find dem, how dem is constructed, an' how fi use dem in forecastin' cycles.
ISM manufacturin' an' services PMIsConference Board LEI componentsConsumer confidence an' sentiment indexesDiffusion indexes an' threshold levelsUsin' leadin' data in recession modelsLesson 5Data quality, revisions, an' how fi cite sources wid month/year (best practices)Develop a disciplined approach fi assessin' macro data quality, understandin' preliminary versus revised releases, trackin' historical revisions, an' correctly citin' sources wid month an' year in professional research outputs.
First releases vs revised macro dataCommon sources of revisions an' biasesUsin' revision histories an' vintagesCheckin' documentation an' footnotesCitin' data wid date an' source detailsLesson 6Treasury market an' yield curve data: 2y, 10y, an' other maturities; calculatin' spreads an' readin' auction resultsLearn how fi obtain Treasury yield data across maturities, compute key spreads such as 2s10s, interpret yield curve shapes, an' read auction results fi signals about demand, liquidity, an' policy expectations.
Sources fi Treasury yield curve dataOn-the-run vs off-the-run securitiesCalculatin' 2s10s an' other key spreadsInterpretin' curve steepenin' an' inversionReadin' Treasury auction result tablesLesson 7Bureau of Labor Statistics (BLS): unemployment, payrolls, labor force participation, wage measures an' seasonalityGain practical skills in accessin' BLS labor market data, includin' unemployment, payrolls, participation, an' wage measures, an' learn how seasonal adjustment an' survey design affect interpretation of trends.
Household vs establishment surveysUnemployment rate an' U-3 vs U-6Nonfarm payrolls an' sector breakdownsLabor force participation an' demographicsWage an' earnings measures, seasonal effectsLesson 8FRED an' other aggregators: downloadin' series, frequency conversion, basic smoothin' an' trend extractionLearn how fi use FRED an' similar aggregators fi search, download, an' transform macro series, adjust frequencies, apply simple smoothin' an' trend filters, an' organize data fi chartin', comparison, an' basic investment analysis.
Searchin' an' bookmarkin' key macro seriesDownloadin' data in CSV an' Excel formatsChangin' data frequency an' aggregation methodsApplyin' movin' averages an' simple filtersUsin' FRED graphs an' custom dashboardsLesson 9Practical checklist: step-by-step guide fi assemble di specific 12–24 month dataset required by di case study (GDP, unemployment, inflation, policy rate, yield curve, one leadin' indicator)Follow a structured workflow fi build a 12–24 month macro dataset fi a case study, includin' GDP, unemployment, inflation, policy rates, yield curve spreads, an' one leadin' indicator, ready fi charts an' regressions.
Definin' di case study horizon an' scopeSelectin' core macro an' market variablesAlignin' frequencies an' calendar datesCleanin', labelin', an' storin' di datasetCreatin' summary charts an' tablesLesson 10Federal Reserve releases an' FOMC statements: how fi find, read, an' extract policy rate an' guidanceLearn how fi locate Federal Reserve statistical releases, FOMC statements, an' minutes, extract policy rate paths an' balance sheet data, an' interpret forward guidance language fi macro an' market analysis.
Key Fed releases an' publication calendarFindin' FOMC statements an' minutesIdentifyin' policy rate decisions an' pathsReadin' forward guidance languageUsin' SEP an' dot plot information