Talking Points

"As long as we can't detect bubbles with great confidence, it seems unwise to adopt fighting them as a policy objective, even if only sparingly." —Chicago Fed President Charles Evans in a November 13 speech.

The Economy

CFNAI
–1.08 in October.

CFMMI
+1.0% in September.

Farmland Values
–4% in 3Q '09 over 3Q '08

'Beige Book'
Midwest Economic Activity Improved Marginally in September and October. offsite link

Michigan Retail Index
–4.3 for sales outlook
–4.1 for sales performance offsite link

Latest News

November 20, 2009

Economic Activity Leveled Off in October
The Chicago Fed National Activity Index (CFNAI) was –1.08 in October, down very slightly from –1.01 in September.

Chicago Fed Announces New Directors, Advisory Council Rep
Three new members of the Chicago Fed's Board of Directors named, as well as new Federal Advisory Council representative.

Detroit Branch Announces New Directors; Chairman Reappointed
Three new members of the Chicago Fed's Detroit Branch Board of Directors named, and Chairman reappointed.

Midwest Farmland Values Down From Last Year
Latest AgLetter reports farmland values for the third quarter of 2009 were 4 percent lower than a year ago.

Rescuing Asset-Backed Securities Markets
Latest Chicago Fed Letter explains why these securities are important and how they work.

Baby Boomer Retirements and Teacher Labor Markets
Article estimates teacher demand and supply through 2020 to gauge impact of baby boomer retirements.(PDF,641KB)

Recession of 1937—A Cautionary Tale
Economist François Velde reviews competing explanations offered for the recession of 1937. (PDF,1.02MB)

Cyclical Movements or Structural Change?
Article looks at how policymakers determine the origin of any increase in the unemployment rate.(PDF,1.16MB)

Upcoming Events

Perspectives on the Future of Agriculture in the Midwest
December 1, 2009

Mortgage Foreclosure Policy: Past, Present and Future
December 9-10, 2009

In The Federal Reserve System

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