Chicago Fed Letter article explains what the Detroit Economic Activity Index tells us about the city's economic progress as of late 2019. The rate of progress had slowed some since 2016, yet Detroit continued to make headway last year in its recovery from bankruptcy.

How can housing markets and homeowners be supported in a time of economic crisis? The Depression era offers some lessons for today.

In the latest Chicago Fed Letter, Vamsi Kurakula, Santiago Sordo-Palacios (both pictured), and Stefania D’Amico present a method to gauge expectations about the policy rate path that preserves the information derived from high-frequency data, while filtering out noise unrelated to future macro-finance conditions.