7-year Breakeven Inflation Rate

The breakeven inflation rate represents a measure of expected inflation derived from 7-Year Treasury Constant Maturity Securities (DGS7 (https://fred.stlouisfed.org/series/DGS7)) and 7-Year Treasury Inflation-Indexed Constant Maturity Securities (DFII7 (https://fred.stlouisfed.org/series/DFII7)). The latest value implies what market participants expect inflation to be in the next 7 years, on average. Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield).