The
@KansasCityFed's PRS index measures financial market perceptions: Positive values indicate a belief that interest rates are more likely to end up higher than projected. Negative values indicate the opposite belief, that rates are more likely to end up lower than projected. From late 2022 to early 2026, index values were generally below zero. Since early 2026, index values have generally been above zero. Visit the FRED Blog for more data and detail