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econscout
Analysis

Two series, one timeline

Overlay any two indicators over the window where both exist. Jul 1954 to May 2026.

First series
Second series
Y-axis
Levels (dual axis) Indexed to 100
Recessions
On Off
Federal Funds Rate(Percent) Nonfarm Payrolls(Thousands of persons)
1957-58 Recession1960-61 Recession1969-70 Recession1973-75 Recession1980 Recession1981-82 Recession1990-91 Recession2001 RecessionGlobal Financial CrisisCOVID-19 Recession5%10%15%60M80M100M120M140M1960197019801990200020102020

Left axis: Federal Funds Rate · FEDFUNDS. Right axis: Nonfarm Payrolls · PAYEMS. Both from FRED, latest-revised, read from cache.

Correlation is not causation. Two lines moving together is not one moving the other. A shared trend often traces back to a third force, or to chance. This tool overlays the data. It does not explain it.