From the President

Charles Evans
President and CEO

Features

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Register for Infrastructure and Economic Growth Conference

Join us on November 3 at this event that will examine what is known about the value of infrastructure investments based on recent research and explore funding models. Read More

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Measuring Fiscal Impetus: The Great Recession in Context

Economic Perspectives article finds that fiscal policy was more expansionary than average during the 2007 recession and has been significantly more contractionary than average during the recovery; it is forecasted to remain depressed well into the future. Read More

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New Issue of Risk Perspectives Available

Federal Reserve Bank of Chicago's supervision group follows current and emerging risk trends. Recent issue of Risk Perspectives highlights risk monitoring. Read More

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Health and Community Socioeconomic Status

This edition of ProfitWise News and Views provides a look at how indicators of health parallel economic conditions, and at how one Chicago neighborhood, to some degree, provides an exception to this general relationship. Read More

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Industry Clusters and Economic Development in Midwest's Largest Cities

Economic Perspectives article examines industry structure, performance and economic development plans of the largest metro areas in Illinois, Indiana, Iowa, Michigan and Wisconsin. Read More

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Industrial Cities Initiative Profiled in New Report

Federal Reserve Bank of Chicago's community development and policy studies department recently published profiles of a group of 10 cities that experienced significant manufacturing job loss in recent decades.  Read More

Recent News

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Understanding Michigan’s State Revenue Sharing with Local Governments

Chicago Fed Letter looks at trends in revenue sharing between state and local governments in Michigan since the early 2000s. Read More

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Economic Growth Picked Up in September

The Chicago Fed National Activity Index was +0.47 in September, up from –0.25 in August. Read More

Farm Income’s Impact on the Midwest

In a recent blog posting, Chicago Fed's David Oppedahl previews a Federal Reserve Bank of Chicago conference to be held on November 17, 2014, that will examine the role of farm income in the Midwest economy.  Read More

Fed’s Evans Addresses National Council on Teacher Retirement

Federal Reserve Bank of Chicago President Charles Evans spoke on October 13 during the National Council on Teacher Retirement 92nd Annual Conference in Indianapolis, IN. Read More

Fed’s Evans Addresses Wisconsin Business, Academic and Community Leaders

Federal Reserve Bank of Chicago President Charles Evans spoke on October 8 during the BMO Harris and Lakeland College economic briefing in Plymouth, Wisc. Read More

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Managing Risk in the Recovery

Chicago Fed Letter explores financial services firms’ current risks and challenges, including those from prolonged low interest rates and cyberthreats. Read More

Fed’s Evans Addresses National Association for Business Economics

Federal Reserve Bank of Chicago President Charles Evans spoke on September 29 to members of the National Association for Business Economics during their annual meeting in Chicago. Read More

Fed’s Evans Addresses Conference on Labor Market Slack

Federal Reserve Bank of Chicago President Charles Evans spoke on September 24 to members of the Peterson Institute for International Economics in Washington, D.C. Read More

Around the System

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FOMC Statement

Access Federal Open Market Committe statements, forecasts and minutes.

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The Fed App: Now for Android and iOs

Download The Fed app onto your smartphone or tablet for the latest speeches, news releases and tweets from the Board of Governors and all 12 Banks.

Economic Snapshot

Chicago Fed National Activity Index (CFNAI)


National Financial Conditions Index (NFCI)


Midwest Economy Index (MEI)


Chicago Fed Midwest Manufacturing Index (CFMMI)


Latest Indicators — September*  
Unemployment Employment
Growth
GSP     
Growth**
Monthly YoY      YoY
US:
IL:
IN:
IA:
MI:
WI:
5.9%
6.6%
5.7%
4.6%
7.2%
5.5%
0.2%
0.3%
-0.2%
0.1%
-0.1%
0.0%
1.9%
1.2%
2.0%
1.4%
0.8%
1.5%
2.6%
2.1%
1.3%
1.2%
4.0%
2.5%

*All data are seasonally adjusted.
**Year-to-date estimates of annual growth in real gross state product (GSP) are through 2014:Q2.
Source: Bureau of Economic Analysis and Bureau of Labor Statistics/Haver Analytics
More about the Midwest Economy

CFNAI
September
Monthly Index:  +0.47
3-month MA:  +0.25
Diffusion Index:  +0.24

NFCI
October 24, 2014
NFCI:  -0.75
Adjusted NFCI (ANFCI):  -0.40

Midwest Economy Index (MEI)
August
MEI:  +0.55
Relative MEI:  +0.26

CFMMI

+0.4% in October 2013

Farmland Values

3% in 2Q14 over 2Q13

'Beige Book'

Growth in economic activity remained moderate in July and August, and contacts maintained their optimistic outlook for the rest of the year.

Michigan Retail Index

+3.0 for sales outlook
+16.1 for sales performance