5- and 10-year real interest rates
This chart tracks market-based five- and ten-year real U.S. interest rates. It uses Treasury Inflation-Protected Securities yields from FRED; these rates incorporate market pricing and risk premia and are not direct forecasts of future economic growth or inflation-adjusted borrowing costs for every borrower.
What does it show?
Real interest rates have moved decisively above the near-zero environment of the 2010s.
Methodology
Market yields on U.S. Treasury inflation-indexed securities at constant maturity: 10-year (DFII10) and 5-year (DFII5), averaged from daily closes to monthly values. Real yields, i.e. after expected inflation. Series begin January 2003 when constant-maturity TIPS yields start.