From the President

Charles Evans
President and CEO

Features

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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

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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

Recent News

Economic Impact of Slowdown in New Business Formation

Chicago Fed Letter finds decline in new business entry did not add much to employment losses of 2008–09, but effects might be long-lasting. Read More

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Midwest Economic Growth Increased in June

The Midwest Economy Index was +0.55 in June, up from +0.45 in May. Read More

Industrial Clusters and Economic Development in Indianapolis, Ind.

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

Around the System

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FOMC Statement

Access Federal Open Market Committe statements, forecasts and minutes.

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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 25, 2014
NFCI:  -0.99
Adjusted NFCI (ANFCI):  -0.35

Midwest Economy Index (MEI)
June
MEI:  +0.55
Relative MEI:  -0.02

CFMMI

+0.4% in October

Farmland Values

1% in 1Q14 over 1Q13

'Beige Book'

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

Michigan Retail Index

+5.4 for sales outlook
-3.4 for sales performance