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About Us
WHO AND WHAT IS THE CHICAGO FED
The talented people of the Federal Reserve Bank of Chicago (Chicago Fed) collaborate in service of the public interest—engaging in work of tremendous value, impact, and importance.
WHAT WE DO
The Chicago Fed is a non-governmental entity that conducts economic research, bank supervision, community outreach and education, and central bank services.
WHAT WE STAND FOR
Core values and equal opportunity
We ensure that our work environment provides equal opportunity and is free of discriminatory practices for all staff. We work hard to attract, develop and retain the best available talent. Our values represented guide us in our daily work and provide a framework for evaluating success.
- Integrity
- Respect
- Responsibility
- Excellence
MISSION
The fundamental mission of the Federal Reserve System is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems so as to promote optimal macroeconomic performance. To this end, the Federal Reserve Bank of Chicago participates in the formulation and implementation of national monetary policy, supervises and regulates designated financial institutions, and provides financial services to depository institutions and the U.S. government.
VISION
To foster a healthy, stable and inclusive economy and financial system where all have the opportunity to thrive.
HISTORY
Present
2023-Present
Austan Goolsbee becomes the tenth president of the Federal Reserve Bank of Chicago.
2007-2009
Great Recession occurs, with a steep decline in economic activity, generally considered to be the largest downturn since the Great Depression.
2000
1997
First annual International Banking Conference to bring researchers and policymakers from different countries and different perspectives together.
1994
First woman senior vice president Nancy M. Goodman became in charge of Community and Information Services.
1990
The Bank expanded its community outreach with the opening of a computerized interactive lobby display explaining the Bank's role.
1990
The Bank joined forces with the University of Illinois to establish the Regional Economic Applications Laboratory (REAL), a center for research on the changing nature of the District economy.
1990
Guadalupe Garcia named the first Hispanic officer at the Bank.
1990
1987
Stock market crashes. Alan Greenspan confirms the Fed’s availability to support the liquidity of the economic and financial systems.
1981-1994
Silas Keehn becomes the seventh president of the Federal Reserve Bank of Chicago.
1980
1980
1971
Charlotte Scott named first African-American officer at the Bank.
1970-1981
Robert P. Mayo becomes the sixth president of the Federal Reserve Bank of Chicago.
1970
1969
Buddie J. Belford appointed first woman assistant vice president, in Personnel.
1964-2015
Hosting Annual Conferences for academics, regulators, and industry participants to debate current issues affecting the financial services industry.
1962-1970
Charles J. Scanlon becomes the fifth president of the Federal Reserve Bank of Chicago.
1960
1956-1961
Carl E. Allen becomes the fourth president of the Federal Reserve Bank of Chicago.
1955
Kathryn E. Lee named assistant cashier, becoming the first female officer at the Bank.
1950
1941-1945
World War II
1914-1947
Switchboard operator Margaret Hartnett becomes first woman hired by the Bank. She retires as switchboard supervisor in 1947.
1914-1919
World War I
1914-1934
James B. McDougal becomes the first governor (president) of the Federal Reserve Bank of Chicago.
1910
