★ BEST INVESTING TOOLS COMPARISON ★
VOL. XCIV, NO. 247
Tool comparison edition
Tool Comparison
FRED (Federal Reserve Economic Data) vs Open Payments (CMS)
Start here
FRED (Federal Reserve Economic Data)
Free · Web · Mobile · API
- You do a lot of your research from your phone
- You care about macro data, calendar, and alerts, things Open Payments (CMS) doesn't offer
Pick Open Payments (CMS) instead if
Open Payments (CMS)
Free · Web · API
- You care about regulatory filings monitoring, something FRED (Federal Reserve Economic Data) doesn't offer
Skip both if: Neither one clicks with how you research; there are strong third options.
See alternativesOutbound links may include affiliate or sponsor codes.
Our take
The bottom line
FRED (Federal Reserve Economic Data) and Open Payments (CMS) cover a lot of the same ground (3 shared categories, data visualizations, APIs & data feeds, and official sources), so for the basics you won't go far wrong with either. FRED (Federal Reserve Economic Data) simply does more: 7 categories to Open Payments (CMS)'s 4, including macro data, calendar, and alerts, plus a mobile app. Open Payments (CMS) counters by being completely free.
What readers say
FRED (Federal Reserve Economic Data)
Vote once to reveal the community verdict.
Open Payments (CMS)
Vote once to reveal the community verdict.
Key differences at a glance
- Mobile app
- FRED (Federal Reserve Economic Data)
- Broader coverage
- FRED (Federal Reserve Economic Data)7 vs 4 categories
- Free plan
- Both
See for yourself
How they stack up
The side-by-side table: pricing, platforms, data, and coverage at a glance.ShowHide
How they stack up
The side-by-side table: pricing, platforms, data, and coverage at a glance.| Attribute | ||
|---|---|---|
| Pricing & plans | ||
Starting price | Free | Free |
Free tier | Yes | Yes |
Free trial | — | — |
Plan limits | Free: api key required: Yes and Free: api rate limited: Yes | — |
| Platforms & access | ||
Web app | Yes | Yes |
Mobile app | Yes | No |
API access | Yes | Yes |
Integrations | Microsoft Excel (FRED Add-in) | — |
| Audience & fit | ||
Experience level | Beginner, Intermediate, Advanced | Beginner, Intermediate, Advanced |
Best for | Students/Researchers, Analysts +1 more | — |
Categories covered | 7 | 4 |
Regions | — | North America |
| Data & capabilities | ||
Data quality | — | Latency: End of Day and Granularity: EOD |
Security | — | Data residency: US |
| Try it | Visit FRED (Federal Reserve Economic Data) | Visit Open Payments (CMS) |
Where each one shines
What FRED (Federal Reserve Economic Data) and Open Payments (CMS) each do best.ShowHide
Where each one shines
What FRED (Federal Reserve Economic Data) and Open Payments (CMS) each do best.What FRED (Federal Reserve Economic Data) does best
- Search tools across and chart hundreds of thousands of economic and financial data series from many official and third-party sources.
- Research coverage for macro topics such as GDP, inflation, prices, employment, exchange rates, interest rates, credit, monetary data, and market indicators.
- Browsing access to by categories, releases, sources, and tags, with series metadata for units, frequency, last update, and next release where available.
- FRED charts for visualization, sharing, embedded graphs, graph images, and saved graph workflows with a free account.
- Monitoring the economic release calendar for scheduled release dates and times, while accounting for provider timing and availability caveats.
What Open Payments (CMS) does best
- Search tools across official Sunshine Act records for payments and ownership interests reported by drug manufacturers, device manufacturers, and group purchasing organizations.
- Comparison tools for General Payments, Research Payments, and Ownership or Investment Interests across program years.
- Lookup tools for physicians, non-physician practitioners, teaching hospitals, manufacturers, products, payment categories, dates, and dollar amounts from the public web tool.
- Charts, filters, and downloadable tables to move from a provider, company, or product question into the underlying records.
- Download support for bulk datasets when healthcare, pharma, medtech, policy, or compliance workflows need repeatable offline analysis.
Every detail we compared
Every tracked attribute for FRED (Federal Reserve Economic Data) and Open Payments (CMS), side by side.ShowHide
Every detail we compared
Every tracked attribute for FRED (Federal Reserve Economic Data) and Open Payments (CMS), side by side.| Attribute | ||
|---|---|---|
| Coverage & fit | ||
Asset types | Other | Other |
Experience | BeginnerIntermediateAdvanced | BeginnerIntermediateAdvanced |
Target audience | Students/ResearchersAnalystsQuants/Developers | Not specified |
Regions | Not specified | North America |
Coverage details | Not specified | Countries: US |
| Data | ||
Data freshness | Not specified | End of Day |
Data granularity | Not specified | EOD |
| Access & integrations | ||
API protocols | REST | REST |
API auth & delivery | Auth: APIKeyDocs | Auth: None |
Integrations | Microsoft Excel (FRED Add-in) | Not specified |
Export formats | ExcelImageJSONXML | CSVJSON |
| Plans & trust | ||
Security & compliance | Not specified | Data residency: US |
Vendor & support | Federal Reserve Bank of St. LouisCountry: United StatesSupport: Email | Centers for Medicare & Medicaid Services (CMS), U.S. Department of Health & Human ServicesCountry: USSupport: Email and Phone |
Curation ratings | Not specified | Methodology 5/5Reliability 5/5UX 4/5 |
Green tags are exclusive to that tool in this comparison.
What you'll actually pay
Plans, billing, trials, and per-month pricing for both tools.ShowHide
What you'll actually pay
Plans, billing, trials, and per-month pricing for both tools.| Tier | ||
|---|---|---|
| Free plan | Freeapi key required: Yes · api rate limited: Yes | Free |
Questions we keep getting
What's the difference between FRED (Federal Reserve Economic Data) and Open Payments (CMS)?
FRED (Federal Reserve Economic Data) leans toward macro data, data visualizations, and calendar, while Open Payments (CMS) puts more weight on APIs & data feeds, data visualizations, and regulatory filings monitoring. They overlap in 3 categories, so for most people it comes down to workflow preference and price.
How much do FRED (Federal Reserve Economic Data) and Open Payments (CMS) cost?
Good news: both FRED (Federal Reserve Economic Data) and Open Payments (CMS) have free plans, so you can run them side by side and only pay if you hit a wall.
Can I use FRED (Federal Reserve Economic Data) or Open Payments (CMS) on my phone?
FRED (Federal Reserve Economic Data) lists a dedicated mobile app, so it travels better. Open Payments (CMS) doesn't list a dedicated mobile app; its documented access is web and API.
Do FRED (Federal Reserve Economic Data) and Open Payments (CMS) have APIs?
Yes, both offer API access, so developers and quants can pull data programmatically or wire up their own integrations.
Should I choose FRED (Federal Reserve Economic Data) or Open Payments (CMS)?
It depends on what you're after. Pick FRED (Federal Reserve Economic Data) if macro data and calendar matter to you; go with Open Payments (CMS) if you'd rather have regulatory filings monitoring. And if you only need the basics both share, let price decide.
Can I export data from FRED (Federal Reserve Economic Data) and Open Payments (CMS)?
Yes, both export to spreadsheets (FRED (Federal Reserve Economic Data): Excel; Open Payments (CMS): CSV), which is handy if you like running your own numbers.
Keep researching
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Feedback
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Curation & Accuracy
This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).
Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.