3-Month Commercial Paper Minus Federal Funds Rate
Monthly
CPFFM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.05
Year-over-Year Change
150.00%
Date Range
1/1/1997 - 7/1/2025
Summary
The CPFFM series tracks monthly financial market conditions and credit flows in the United States. This indicator provides critical insights into the liquidity and overall health of financial markets.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The CPFFM (Commercial Paper and Financial Market) series measures the volume and dynamics of short-term corporate debt instruments and broader financial market conditions. Economists use this data to assess credit market stress, corporate borrowing trends, and potential economic risks.
Methodology
Data is collected through comprehensive surveys and reporting from financial institutions, tracking commercial paper issuance, interest rates, and market transaction volumes.
Historical Context
Policymakers and Federal Reserve analysts use this trend to evaluate monetary policy effectiveness and potential systemic financial risks.
Key Facts
- Tracks short-term corporate debt market dynamics
- Provides insights into financial market liquidity
- Critical for understanding credit market health
FAQs
Q: What does CPFFM measure?
A: CPFFM measures monthly commercial paper issuance and financial market conditions, tracking short-term corporate debt and credit market dynamics.
Q: Why are commercial paper markets important?
A: Commercial paper markets are crucial for corporate short-term financing and serve as a key indicator of overall economic and financial market health.
Q: How frequently is CPFFM data updated?
A: The CPFFM series is typically updated monthly, providing current snapshots of financial market conditions.
Q: How do policymakers use this data?
A: Policymakers analyze CPFFM data to assess credit market stress, evaluate monetary policy impacts, and identify potential economic risks.
Q: What are the limitations of this indicator?
A: While comprehensive, CPFFM data represents a snapshot in time and should be considered alongside other economic indicators for a complete market assessment.
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Related Trends
Moody's Seasoned Baa Corporate Bond Minus Federal Funds Rate
BAAFF
Moody's Seasoned Aaa Corporate Bond Minus Federal Funds Rate
AAAFF
3-Month Commercial Paper Minus Federal Funds Rate
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7-year Breakeven Inflation Rate
T7YIEM
10-Year Treasury Constant Maturity Minus Federal Funds Rate
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Moody's Seasoned Aaa Corporate Bond Yield Relative to Yield on 10-Year Treasury Constant Maturity
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Citation
U.S. Federal Reserve, Monthly [CPFFM], retrieved from FRED.
Last Checked: 8/1/2025