6 The effects of the Federal Reserve’s actions in establishing these facilities on credit markets are discussed in  Nina Boyarchenko, Richard Crump, and Anna Kovner, The Commercial Paper Funding Facility, Federal Reserve Bank of New York Liberty Street Economics, May 15, 2020 ; Antoine Martin and Susan McLaughlin, The Primary Dealer Credit Facility, Federal Reserve Bank of New York Liberty Street Economics, May 19, 2020; Nina Boyarchenko, Richard Crump, Anna Kovner, Or Shachar, and Peter Van Tassel, The Primary and Secondary Market Corporate Credit Facilities, Federal Reserve Bank of New York Liberty Street Economics, May 26, 2020; and Marco Cipriani, Andrew Haughwout, Ben Hyman, Anna Kovner, Gabriele La Spada, Matthew Lieber, and Shawn Nee, Municipal Debt Markets and the COVID-19 Pandemic, Federal Reserve Bank of New York Liberty 3/4  BIS central bankers' speeches  Street Economics, June 29, 2020. 7  Jerome H. Powell, Current Economic Issues, Speech at the Peterson Institute for International Economics, Washington, D.C. (via webcast) (May 13, 2020). 4/4  BIS central bankers' speeches
11  Jun.22  Figure 3 Inflation Expectations (annual change, percent) Surveys to analysts (1) (2)  Surveys to firms (1) FTS two years out EES two years out FTS one year out EES one year out  10  8  PDES two years out (4) PDES one year out (4) IMCE one year out (3)  10  8  6  6  4  4  2  2  0  0 17  18  19  20  21  22  17  18  19  20  21  22  (1) Response medians are shown. (2) FTS considers the survey for the first two weeks of each month through January 2018. From February 2018 onwards, it considers the last survey published in the month, including the one prior to the June 2022 Meeting. In months in which the survey is not published, the latest available survey is considered. (3) Average of trade and manufacturing medians. (4) Price determinants and expectations Survey carried out on companies by the Central Bank of Chile. Sources: UAI/Icare and Central Bank of Chile.