The Fed's 35-year open data bet is a model for the AI era

Ask an economist, a reporter or a legislative staffer where a number came from and the answer often sounds like a colleague's name: FRED. Federal Reserve Governor Christopher Waller said the same is true around the world. Mention the St. Louis Fed overseas, he told a conference audience on Oct. 1, and people answer with one word: FRED.

I first met FRED long ago, as a novice user working for the leadership of the Missouri House. Even with little experience, I could quickly pull the information decisionmakers needed. Years later, as an economic researcher, I relied on FRED for far more sophisticated analytics. Few public tools serve both of those users well, and that range is a big part of what makes FRED a public good.

This month I was back in Missouri at the Federal Reserve Bank of St. Louis, moderating the closing panel of that conferenceon...

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