2022 Trust Forum Presentations

Internal Use Only

Yield Curve and the CBSI Business Conditions Indicator

150

1.40

Yield Curve

130

Yield Curve (10 Ͳ year Treasury Minus 2 Ͳ year Treasury)

0.90

110

Business Conditions Index

70 CBSI Business Conditions Index 90

0.40

Ͳ 0.10

50

30

Ͳ 0.60

Internal Use Only

Monetary Policy

90

70

50

30

10

Q2 2019

Q3 2019

Q4 2019

Q1 2020

Q2 2020

Q3 2020

Q4 2020

Q1 2021

Q2 2021

Q3 2021

Q4 2021

Q1 2022

Q2 2022

Q3 2022

Ͳ 10

Ͳ 30

Ͳ 50

Ͳ 70

Ͳ 90

MPp MPn MPi