Financial conditions in the U.S. loosened slightly over the past week and remain looser than would be expected at the current stage of the economic cycle, according to the new index from the Federal Reserve Bank of Chicago. Get the full story »
Inside these posts: Federal Reserve-Chicago
Federal Reserve Bank of Chicago President Charles Evans on Friday said investors may still expect ailing financial institutions to be bailed out by governments despite reforms aimed at reversing market psychology. Get the full story »
Midwest manufacturing continued its recovery in January, led by improvement in the auto industry, according to the Federal Reserve Bank of Chicago. The Chicago Fed’s monthly manufacturing index increased 1.1 percent in January, to a seasonally adjusted 84.1. Get the full story »
The Chicago Fed Midwest Manufacturing Index increased 0.3 percent in December to 81.5, according to data released Thursday by the Federal Reserve Bank of Chicago. Get the full story »
Credit cards that give cash back prompt consumers to spend more and accrue more debt, according to researchers at the Federal Reserve Bank of Chicago.
The initiation of a 1 percent cash rewards program yielded, on average, a $25 reward each month — and an increase in spending by $68 a month and in credit-card debt of $115 a month, the economists say in a paper to be presented at the American Economic Association meetings next week. Get the full story »
U.S. economic growth and inflation is expected to pick up a bit next year, while the jobless situation will improve slightly, according to a survey conducted by the Federal Reserve Bank of Chicago. Get the full story »
Federal Reserve Chairman Ben Bernanke is likely to face some new dissenting votes when the make-up of the Federal Open Market Committee, the central bank’s policy-making committee, changes in January.
Four presidents of regional Fed banks will step into the rotation at the Fed’s policy meeting in late January: Charles Evans of Chicago, Charles Plosser of Philadelphia, Richard Fisher of Dallas and Narayana Kocherlakota of Minneapolis. They’ll join the eight permanent voters on the FOMC: seven Fed governors (one position is now vacant) and the New York Fed president. Get the full story »