Option to toggle:
A line to display the rate in December. It does not change until the next December.
What the color change to red is indicative of:
According to the Federal Open Market Committee (FOMC) regarding rate, "2% is a bae number to be around". This does not imply a strict 2% for success and allows room for federal rate cuts should they be needed.
Although FOMC declared 2% to be "bae" in 2012, James Bullard, of federal banking fame, claims that started to become the norm in 1995. Therefore the rate line will only turn red 1995 onwards, and serves as a friendly reminder that has been over at or over 2% for more than one month.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)