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Sometimes—but not every FRED series is cleared for commercial use. FRED’s terms allow specified commercial uses of series labeled “Public Domain: Citation requested” or “Copyrighted: Citation required,” provided you credit both FRED and the data’s original source. A series labeled “Copyrighted: Pre-approval required” needs express written permission from its rights holder for uses beyond personal, non-commercial purposes. The API key gives access to data; it does not override those rights or FRED’s separate service rules. Check FRED’s current terms and the notes for each series before using it in a product.
How to check whether a FRED series can be used commercially
- Identify the exact series and how you plan to use it. Rights can differ across FRED’s catalog because some data are owned by the St. Louis Fed and some by outside providers. Distinguish internal analysis from displaying data to customers, redistribution, bulk collection, or use in software development.
- Read the series’ copyright label and notes. FRED uses three labels: “Public Domain: Citation requested,” “Copyrighted: Citation required,” and “Copyrighted: Pre-approval required.” The first two permit specified commercial uses under FRED’s terms; the third requires permission from the rights holder for other-than-personal use. FRED Services Terms of Use
- Use the recommended citation and credit both parties. Attribute the data to FRED and its original source. For example, cite “BLS via FRED” when that matches the series’ source and suggested citation. FRED series information
- Check the terms for the service or API as well. A series’ label does not grant permission to reproduce FRED’s service, branding, compilations, or content wholesale. Review the relevant current terms for your implementation.
- Ask the original provider if permission is required or unclear. FRED says it cannot grant permission on behalf of a third-party data owner. FRED Services Terms of Use
What each copyright label means
| Series label | Commercial-use implication | What to do |
|---|---|---|
| Public Domain: Citation requested | FRED’s terms allow internal commercial use and display in textbooks, newsletters, or client reports when appropriate attribution is given to FRED and the original source. | Follow the series notes and citation guidance; credit both FRED and the source. |
| Copyrighted: Citation required | FRED’s terms allow the same specified commercial uses when appropriate attribution is given to FRED and the original source. | Provide the required attribution and check the series notes for any source-specific details. |
| Copyrighted: Pre-approval required | Uses beyond personal, non-commercial purposes require express written permission from the rights holder. | Contact the data owner before using the series commercially. FRED cannot grant permission for a third party’s data. |
These are permissions described in FRED’s terms, not a blanket license for every possible way to redistribute, store, or process data. The terms’ examples specifically include internal commercial use and display in textbooks, newsletters, or reports to clients; do not assume those examples automatically cover a different product design.
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Does a free FRED API key make commercial use legal?
No. The API provides a way to retrieve FRED and ALFRED data; it does not transfer rights reserved by the original provider. FRED’s API terms say that before using third-party-owned series for anything beyond personal use, users must contact the data owner for permission. An API key is an access credential, not a commercial-use license. FRED API Terms of Use
If you build an application for other users, the API terms also require you to link to those terms and tell users that using the application binds them to them. Check the current API terms for the complete obligations and wording.
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Restrictions to consider when designing a commercial product
Even when a series label permits a particular commercial use, FRED’s service and API rules apply separately. The current terms address restrictions including:
- Presenting FRED as endorsing a product or implying endorsement.
- Claiming the whole FRED data or service experience as a unique product.
- Disruptive mining, scraping, mirroring, or extraction.
- Unauthorized storage, caching, archiving, or wholesale downloads.
- Using the API in connection with developing or training software or machine-learning systems, including generative AI.
The precise scope depends on the current service and API terms; review them directly before building bulk retrieval, cached delivery, archives, or software-training workflows. The Federal Reserve Bank of St. Louis highlighted AI and wholesale-download provisions in a June 2024 notice about FRED API terms.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why the series-level check matters
FRED says its catalog contains more than 800,000 economic data series from over 100 sources. That scale does not create blanket permission: each series’ source and copyright label matter. FRED Services Terms of Use
Before deployment, document the exact series, its source and label, your intended audience and display or redistribution method, and whether your design involves bulk collection, caching, or AI-related use. Resolve any required third-party permission with the provider, and reassess if the series or product use changes.
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