From the President

Charles Evans
President and CEO

Features

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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

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Homebuilders, Affiliated Financing Arms, and the Mortgage Crisis

Economic Perspectives article finds that although homebuilder financing affiliates make loans to riskier borrowers, they have lower delinquency rates than unaffiliated lenders. Read More

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Analysis of SBA Loan Program in Michigan

In our continuing effort to understand the small business lending landscape in Detroit, ProfitWise News and Views explores role of the Small Business Administration program in facilitating credit flow to the city’s low-income and (predominantly) black neighborhoods. Read More

Recent News

Economic Development in Des Moines, Iowa

In a recent blog posting, Federal Reserve Bank of Chicago's Rick Mattoon summarizes major trends in selected Midwest metropolitan economies. Read More

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Economic Growth Decelerated Slightly in June

The Chicago Fed National Activity Index was +0.12 in June, down from +0.16 in May. Read More

Fed’s Evans Addresses Economic Summit

Charles Evans July 11 slide presentation to the Sixth Annual Rocky Mountain Economic Summit in Jackson Hole, Wyoming. Read More

High-Frequency Trading Recommendations

New Chicago Fed paper summarizes relevant published research on high-frequency trading and offers recommendations. Read More

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Is There a Tradeoff Between Low Bond Risk Premiums and Financial Stability?

Chicago Fed Letter finds large increases in bond risk premiums are independent of the level or change in risk premiums or the real federal funds rate. Read More

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Economic Growth Forecasts—Views from the Automotive Sector

Chicago Fed Letter reports symposium forecasts for the auto sector and U.S. economy through 2015. Read More

After Detroit: How Will Illinois and Its Communities Respond?

Chicago Fed Letter explores how Chicago and other municipalities are avoiding and resolving fiscal stress following Detroit’s bankruptcy. Read More

Around the System

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April FOMC Statement

The statement released on April 30, 2014 is now available. Statement Regarding Purchases of Treasury Securities and Agency Mortgage-Backed Securities also available.

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Bank Strategies: Trends and Examples

Chicago executive vice president for supervision and regulation, Cathy Lemieux, talks about business planning by bank leaders in Community Banking Connections.

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 — April*  
Unemployment Employment
Growth
GSP     
Growth**
Monthly YoY      YoY
US:
IL:
IN:
IA:
MI:
WI:
6.1%
7.1%
5.9%
4.4%
7.5%
5.7%
0.2%
0.1%
0.6%
0.2%
0.4%
0.1%
1.8%
0.3%
2.2%
1.4%
0.8%
1.6%
0.4%
1.5%
-0.2%
0.0%
2.7%
2.0%

*All data are seasonally adjusted.
**Year-to-date estimates of annual growth in real gross state product (GSP) are through 2014:Q1.
Source: Bureau of Economic Analysis and Bureau of Labor Statistics/Haver Analytics
More about the Midwest Economy

CFNAI
June
Monthly Index:  +0.12
3-month MA:  +0.13
Diffusion Index:  +0.18

NFCI
July 11, 2014
NFCI:  -0.98
Adjusted NFCI (ANFCI):  -0.43

Midwest Economy Index (MEI)
May
MEI:  +0.41
Relative MEI:  -0.38

CFMMI

+0.4% in October

Farmland Values

1% in 1Q14 over 1Q13

'Beige Book'

Growth in economic activity in the Seventh District was moderate in April and May.

Michigan Retail Index

+5.4 for sales outlook
-3.4 for sales performance