Features

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Community Development Financial Institutions Assist the Underserved

Profitwise News and Views Spotlight explains how Community Development Financial Institutions (CDFIs)  are assisting with the implementation of several new policy initiatives designed to direct capital to the nation’s underserved communities, business and home owners.  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 updates on interest rate and liquidity risk, money market mutual funds, residential mortgage and fraud topics. Read More

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Do Government Program Benefits Keep Up with Inflation?

Economic Perspectives article looks at the extent to which program benefits keep up with particular demographic groups’ inflation. Read More

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Why Are Rising Vacancies Not Putting More of a Dent in Unemployment?

Economic Perspectives article analyzes the matching efficiency of jobs and workers in U.S. labor markets. Read More

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Improving Competition and Liquidity of Over-the-Counter Derivatives

Economic Perspectives article explains the benefits of central clearing for OTC derivatives market and discusses the optimal clearing structure. Read More

Recent News

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Economic Activity Improved in December

The Chicago Fed National Activity Index was +0.17 in December, up from

–0.46 in November.

Read More

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What are the Risks and Opportunities on the Horizon for Community Banking?

Chicago Fed Letter explores the direct and indirect effects of the Dodd–Frank Act on community banks and other related issues. Read More

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Rising Farmland Values: Causes and Cautions

Chicago Fed Letter explores what has been driving the large and rapid increases in Midwest farmland values, as well as the potential risks posed by them. Read More

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Forecast: Slow U.S. Economic Growth in 2012

Chicago Fed Letter summarizes the Economic Outlook Symposium’s 2012 forecasts, including inflation moderating and unemployment edging lower. Read More

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Why the Elderly Continue to Save

Chicago Fed Letter shows that seniors keep saving because of the risks of living long and having high medical expenses. Read More

Improving Security for Remote Payments

Chicago Fed Letter explores ways to reduce fraud for online shopping and other non-face-to-face transactions. Read More

Around the System

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Is the Fed Audited?

Yes, the Board of Governors, the 12 Federal Reserve Banks, and the Federal Reserve System as a whole are all subject to several levels of audit and review.

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Consumer Complaints and Information

If you have a problem with a bank or financial institution, contact the Federal Reserve for help.

Talking Points

"Being more explicit about appropriate policy can clear up a lot of uncertainty."

Charles Evans, President and CEO, Federal Reserve Bank of Chicago, in a January 13, 2012 speech.
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 — Nov*
Unemployment    Employment
      Growth
Monthly YoY
US:
IL:
IN:
IA:
MI:
WI:
8.6%
10.0%
9.0%
5.7%
9.8%
7.3%
 0.1%
0.0%
0.0%
 -0.1%
0.0%
-0.5%
 1.2%
 1.0%
 -0.2%
 0.7%
1.5%
 0.2%

*All data are seasonally adjusted.
More about the Midwest Economy

CFNAI
December
Monthly Index:  +0.17
3-month MA:  -0.08
NFCI
January 20, 2012
NFCI:  -0.35
Adjusted NFCI (ANFCI):  -0.20
Midwest Economy Index (MEI)
November
MEI:  -0.15
Relative MEI:  +0.04
CFMMI

-0.1% in November

Farmland Values

+25% in 3Q11 over 3Q10

'Beige Book'

The rate of growth of economic activity in the Seventh District picked up in late November and December.

Michigan Retail Index

-4.0 for sales outlook
-4.1 for sales performance