On October 1, 2026, Federal Reserve Board Governor Christopher J. Waller introduced the FRED MCP Connector at the FRED Con conference. The tool is designed to allow AI agents to connect directly to the FRED economic database, which contains over 850,000 data series from sources like the Bureau of Economic Analysis and the Bureau of Labor Statistics.
The connector utilizes the Model Context Protocol, a standard that enables AI tools to interact with databases without custom integrations. It is currently available at mcp.stlouisfed.org and supports the 'Bring Your Own AI' model, allowing users to connect assistants like Claude without needing a separate API key.
The initiative addresses a significant shift in usage patterns, as AI agents now account for approximately 50% of traffic to the FRED website. The platform is experiencing an annual traffic growth rate of 150%, prompting the Federal Reserve to prioritize more precise documentation and reliable automated query systems.
Governor Waller noted that the transition aims to mitigate common AI issues, such as data misinterpretation, incorrect citations, and source misattribution. Future updates to the database will include natural-language search and interactive features to further improve how AI systems access and visualize economic data.
