From Facebook political debates to college classrooms, the St. Louis Fed’s data tool has gained a major following.The New York Times reports that the St. Louis Fed’s data tool, FRED, has gained a major following from Facebook political debates to college classrooms. The tool has become a celebrity in the economics world, with fans posting about him on social media and college professors dedicating class sessions and textbook sections to him. Even foreign government officials have expressed jealousy over his skills, and one prominent economist refers to him as a “national treasure.”
FRED, a 33-year-old data tool from St. Louis, Mo., has become an unlikely celebrity, with his signature baby blue graphs appearing on social media and popular news websites. The website had nearly 15 million users last year and is on track for even more in 2024, up from fewer than 400,000 in 2009. People visit FRED for a variety of reasons, from checking unemployment data to tracking egg inflation or business growth in specific cities.
FRED’s appeal crosses political lines, with both Larry Kudlow, who directed the National Economic Council during the first Trump administration, and groups like Alaskans for a Sustainable Budget and Employ America using its charts to support their arguments. Even professional and White House economists, who have access to sophisticated data tools, use FRED for quick charts.
The St. Louis Fed building, where FRED is based, has become a popular tourist destination, with visitors taking photos in front of the building. FRED’s popularity is a testament to the importance of data in understanding and analyzing economic trends, and its user-friendly interface has made it accessible to a wide range of people.
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