The recent Cleveland Fed Policy Summit focused on “Connecting People and Places to Opportunity.” This blog summarizes key points made during a panel entitled Inclusive Economic Growth: Tools for Smaller Communities, featuring Alkeyna Aldridge from the city of South Bend, Indiana;1 Alisa Costa from Pittsfield, Massachusetts,2 and Dedrick Asante-Muhammed from the NCRC.3 The discussion demonstra... Read More
The Federal Reserve Bank of Chicago's Community Development Division regularly holds economic development forums around the Seventh District that provide both a general economic overview and focus on topics of interest to stakeholders. On May 23, the topic was “Updates on the Midwest Economy & What Bankers Need to Know Regarding Recent Fair Lending Discrimination Settlements.” Updates on the... Read More
Neighborhoods can profoundly impact an individual's health1, quality of life2, and prospects for upward economic mobility3. Generally speaking, access to economic opportunity is not evenly distributed4, thus making opportunity-rich neighborhoods often prohibitively expensive for low- and moderate-income (LMI) households. Programs that aim to protect access to affordable housing in high opportun... Read More
Thank you to the over 900 businesses across Illinois, Indiana, Iowa, Michigan and Wisconsin1 that participated in the latest round of the nationwide Small Business Credit Survey (SBCS).2 Your participation provided fresh information about the economic trends affecting small businesses in the area served by the Federal Reserve Seventh District. While only the second year that the survey has bee... Read More
The Board of Governors of the Federal Reserve System ("Board") has issued CA 19-11 to inform financial institutions that it recently considered the requirements of the Department of the Treasury's New Markets Tax Credit ("NMTC") Program2 and determined that a NMTC-eligible investment, directly or indirectly, as defined by Section 45D(c)(1) of the IRS Code, fits within the meaning of the Public ... Read More
The Federal Reserve Board of Governors (the Board) announced on April 5, 2019 that it is accepting applications from individuals for membership on the Community Advisory Council (CAC). Community Development and Policies Studies, a division of the Economic Research Department of the Federal Reserve Bank of Chicago, is working with the Board to source candidates for the CAC from the 7th District, w... Read More
Juan Salgado, Chancellor of the City Colleges of Chicago, will be the closing keynote speaker at the May 2019 Federal Reserve System Community Development Research conference. The theme of this year's conference is “Renewing the Promise of the Middle Class.” Recently, Federal Reserve Bank of Chicago staff, Susan Longworth and Mike Berry met with Chancellor Salgado to discuss what the theme mea... Read More
In today's blog we interview Marc Norman, from the University of Michigan, who is just starting his term on the Federal Reserve's Community Advisory Council. We ask him about his role, responsibilities, and outlook. What do you do for the University of Michigan's A. Alfred Taubman College of Architecture and Urban Planning and how does your work relate to community and economic development? I a... Read More
The Peer City Identification Tool V3.0 (PCIT) has launched with new data and calculations, updated analyses, and a new feature that allows users to select up to three cities of their own choosing. Background The PCIT is an interactive data exploration tool created by the Community Development and Policy Studies division at the Federal Reserve Bank of Chicago. The PCIT enables users to identif... Read More
We are delighted to announce that registration for the Eleventh Biennial Federal Reserve System Community Development Research Conference, “Renewing the Promise of the Middle Class,” is now open. On May 9-10, 2019, the Conference will bring together researchers, policymakers, and practitioners to discuss the latest research on promoting an inclusive middle class. The Conference agenda features... Read More
