This resource is part of the educational content available from the Federal Reserve Bank of St. Louis. FRED stands for Federal Reserve Economic Data. This lesson plan supplements the “FRED Interactive: Information Literacy” online course available through www.econlowdown.org. Two parts are included: Part A: Reviewing “FRED Interactive: Information Literacy” Online Course Content: Students review a FRED graph made in the course; define the concepts nominal, real, and inflation; and discuss basic strategies for establishing the reliability of a data source. Part B: ACRL Information Literacy Frames as FRED-Integrated Abilities: The frames Research as Inquiry, Information Creation as a Process, Scholarship as Conversation, and Authority Is Constructed and Contextual are highlighted. With Option A, students work in FRED and use the formula real = (nominal/CPI)*100 to plot inflation-adjusted minimum wage rates for two states and compare the results. With Option B, students work in FRED to plot and compare nominal and real earnings differentials for men and woman. Part C, Assessment, includes a variety of in-class and out-of-class activities offer the teacher choices to assess student skills. Part D, Resources, provides links to additional resources and a glossary of terms that will further learning opportunities.