Features

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Reforming Financial Regulation

Chicago Fed Letter examines the recent financial crisis and potential regulatory reform.  The article summarizes the Chicago Fed’s 45th annual Conference on Bank Structure and Competition, which took place May 6–8, 2009. Read More

Community bank

Impact of the Financial Crisis on Community Banks

Chicago Fed Letter explores possible risks and regulations facing community banks. The article summarizes key presentations and discussions at a recent conference. Read More

Economic Perspectives

New Economic Perspectives Now Online

First quarter 2010 edition includes articles titled, "Interest Rates Following Financial Re-regulation," and "Measuring the Equilibrium Real Interest Rate."  Read More

High Frequency Trading

Controlling Risk in a Lightning-Speed Trading Environment

Most recent Chicago Fed Letter explains advantages and risks to high-frequency algorithmic trading.
Read More

Recent News

charles evans 03/04/2010

Chicago Fed President Submits Letter to Congress on Regulatory Reform

Chicago Fed President Charles Evans wrote a letter to United States Senators representing the Seventh Federal Reserve District states expressing his views on regulatory reform and the role of the Federal Reserve.   Read More

Fed letter icon 02/22/2010

Chicago Fed National Activity Index Turns Ten

Chicago Fed Letter examines how the CFNAI has performed as a “real-time” indicator of economic activity and related inflationary pressure during its first decade. Read More

AgLetter icon 02/18/2010

Midwest Farmland Values Up Slightly

Latest AgLetter reports annual farmland values were up 2 percent in 2009. Read More

David Oppedahl 01/22/2010

Agricultural Trends and Paths Toward the Future

In recent Chicago Fed Letter, economist David Oppedahl examines issues shaping the future of Midwest agriculture, with a focus on public policy. Read More

Talking Points

"Once you look past the headline numbers, however, some other labor market indicators are unusually weak."

Charles Evans, Chicago Fed President and CEO in a speech delivered March 9, 2010.
Economic Snapshot

Chicago Fed National Activity Index (CFNAI)


Chicago Fed Midwest Manufacturing Index (CFMMI)


Latest Indicators — December*
Unemployment    Employment
      Growth
Monthly YoY
US:
IL:
IN:
IA:
MI:
WI:
10.0%
11.1%
9.9%
6.6%
14.6%
8.7%
-0.1%
-0.3%
-0.3%
-0.9%
-0.4%
-0.6%
-3.1%
-4.1%
-3.6%
-2.7%
-5.1%
-4.3%

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

CFNAI
January
Monthly Index:  +0.02
3-month MA:  -0.16
CFMMI

-0.3% in December

Farmland Values

+2% in 4Q09 over 4Q08

'Beige Book'

Economic activity in the Seventh District improved at a moderate pace in January and February

Michigan Retail Index

+4.7 for sales outlook
+2.1 for sales performance