Chicago Fed

About Us

The Federal Reserve Bank of Chicago serves the public by fostering a healthy economy and supporting a stable financial system. Together with the Federal Reserve Board of Governors in Washington, D.C., the Chicago Fed and 11 other regional Reserve Banks make up the U.S. central bank, known as the Federal Reserve or just the Fed.

At the Chicago Fed, we serve the Seventh Federal Reserve District, a diverse region that is the heart of the Midwest. We contribute to the creation of national monetary policy, supervise and regulate banks and similar institutions, operate payment systems, and provide financial services as the bank for banks.

Our District

The Seventh Federal Reserve District comprises Iowa and most of Illinois, Indiana, Michigan, and Wisconsin. Its largest metropolitan areas are Chicago, Detroit, Indianapolis, Milwaukee, and Grand Rapids. More than 35 million people lived in the District as of 2021.

Chicago, IL

Connected to the nation and world via waterways and rail lines, Chicago grew from a prairie outpost to become the country’s third-largest city. Home to world-class restaurants and museums, it boasts a robust tourist trade and diverse economic base, including finance, healthcare, and technology firms.

Detroit, MI

Home to significant portions of the automotive industry, Detroit in recent years has seen its economy move beyond manufacturing to incorporate new development in healthcare, tech, and small businesses. The city’s economic resurgence has been sparked by broad-based civic engagement and a vibrant history of arts and culture.

Indianapolis, IN

The Seventh District’s southernmost city, Indianapolis has seen steady population growth to help serve industries including logistics, manufacturing, and pharmaceuticals. It has enjoyed a downtown revitalization even as the suburbs around the city continue to grow and thrive.

Milwaukee, WI

You can’t think of Milwaukee without thinking of beer. But the economy of the Lake Michigan city also includes harder-edged industries like precision machinery and toolmaking, not to mention motorcycles. Tourists are significant contributors, too, enjoying, for instance, one of the nation’s longest-running summer music festivals.

Des Moines, IA

Agriculture is big in Des Moines, of course, but its high number of insurance firms has seen it dubbed the “Hartford of the West.” While workers enjoy the state’s low unemployment rate, the Iowa capital has seen strong growth in its tech sector, including area development of data centers.

Grand Rapids, MI

Like Des Moines, Michigan’s second-largest city has seen growth in its tech sector, complementing traditional strengths in furniture manufacture, auto components, and healthcare and medical devices. On the fun side—and don’t tell Milwaukee—GR bills itself “Beer City USA” because of its concentration of craft breweries.