Federal Reserve Bank of Chicago

Federal Reserve Bank of Chicago OFFICIAL SITE: The Seventh Federal Reserve District (Chicago Fed) serves parts of Illinois, Indiana, Michigan and Wisconsin and all of Iowa.
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On May 18, 1914, the Chicago Fed was organized as Seventh District of the Federal Reserve System. On May 18, 1914, the Seventh District of the Federal Reserve System, the Chicago Fed, was organized. The Seventh District has a large national share of many important economic sectors. The Chicago Fed has a head office in Chicago, branch office in Detroit and a regional office for regulation staff in Des Moines.

On May 18, 1914, the Chicago Fed was organized as Seventh District of the Federal Reserve System. On May 18, 1914, the Seventh District of the Federal Reserve System, the Chicago Fed, was organized. The Seventh District has a large national share of many important economic sectors. The Chicago Fed has a head office in Chicago, branch office in Detroit and a regional office for regulation staff in Des Moines.

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 in order 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 state member banks, bank holding companies and foreign bank branches; and provides financial services to depository institutions and the U.S. government.

Operating as usual

In this working paper, Senior Economist Lisa Barrow explores the various challenges that students and families face in e...
12/04/2020

In this working paper, Senior Economist Lisa Barrow explores the various challenges that students and families face in enrolling in Chicago’s high-performance high schools: https://bit.ly/2VRu0Sh

Watch a livestream of a fireside chat with President Charles Evans at the Michigan Bankers Association’s Bank Management...
12/03/2020

Watch a livestream of a fireside chat with President Charles Evans at the Michigan Bankers Association’s Bank Management and Directors Conference at 8 a.m. CT/9 a.m. ET tomorrow: https://bit.ly/3ogHT8G

The paper mill in Wisconsin Rapids closed earlier this year after 116 years of continuous operation, prompting the quest...
12/03/2020

The paper mill in Wisconsin Rapids closed earlier this year after 116 years of continuous operation, prompting the question: Can Wisconsin Rapids reinvent itself once again? Read the discussion here: https://bit.ly/39zqsvO

How does climate change risk affect global financial markets? Chicago Fed’s Nahiomy Alvarez, Alessandro Cocco, and Ketan...
12/02/2020

How does climate change risk affect global financial markets? Chicago Fed’s Nahiomy Alvarez, Alessandro Cocco, and Ketan B. Patel establish a new framework for assessing this emerging risk: https://bit.ly/3g1e6ha

Today at 2:00 pm CT, we are live streaming our discussion on rebuilding Milwaukee’s economy to ensure all residents shar...
12/01/2020

Today at 2:00 pm CT, we are live streaming our discussion on rebuilding Milwaukee’s economy to ensure all residents share in a strong future for the city. Tune in here: https://bit.ly/2Vkyr7E

Interested in learning how shifts in consumer demand may change Midwest agriculture? Register for tomorrow’s conference ...
11/30/2020

Interested in learning how shifts in consumer demand may change Midwest agriculture? Register for tomorrow’s conference featuring Jayson Lusk, department head and distinguished professor in Purdue University’s Department of Agricultural Economics: https://bit.ly/2M7KLmY

High school seniors and college students interested in careers in #IT or #informationsecurity, today is the last day to ...
11/27/2020

High school seniors and college students interested in careers in #IT or #informationsecurity, today is the last day to register for our virtual Future Leaders Conference on Dec 3-4! More info on next week’s event here: https://bit.ly/35GC4tA

Sending warm wishes to all of our employees and their families on this Thanksgiving Day—thank you for all that you do to...
11/26/2020

Sending warm wishes to all of our employees and their families on this Thanksgiving Day—thank you for all that you do to make the Chicago Fed a great place to work!

Learn how the dynamics between contact tracing and testing availability affect the Covid-19 pandemic’s toll on the econo...
11/25/2020

Learn how the dynamics between contact tracing and testing availability affect the Covid-19 pandemic’s toll on the economy in a new working paper by Chicago Fed senior economist Leonardo Melosi. The research also looks at optimal lockdown scenarios when there are coordination failures. https://bit.ly/3q1fTaQ

On Monday, the Iowa Bankers Association will host Chicago Fed President Charles Evans for a discussion as part of its Le...
11/20/2020

On Monday, the Iowa Bankers Association will host Chicago Fed President Charles Evans for a discussion as part of its Leaders Speakers Series 2020.

Tune in at 2 pm CT for this live virtual event: https://bit.ly/3kMsmet

The discussion will be moderated by Abe Tubbs, CEO of Ohnward Bank & Trust and former member of the Board of Directors of the Federal Reserve Bank of Chicago.

"Looking Down the Road with ALEX: Forecasting U.S. GDP" examines the recovery from the recession that began with the ons...
11/18/2020

"Looking Down the Road with ALEX: Forecasting U.S. GDP" examines the recovery from the recession that began with the onset of the Covid-19 pandemic using a new model called ALEX. The model uses 107 monthly and quarterly indicators of economic activity to forecast the near-term path of U.S. #GDP.

Read the Chicago Fed Letter on ALEX and the recovery here: https://bit.ly/3nH3dUB

Join us on Wednesday (Nov 18) from 2:00 – 3:00 pm CT for the next #ProjectHometown virtual event, Can Wisconsin Rapids R...
11/16/2020

Join us on Wednesday (Nov 18) from 2:00 – 3:00 pm CT for the next #ProjectHometown virtual event, Can Wisconsin Rapids Reinvent Itself Once Again?

To register visit: https://bit.ly/2IG2mo9.

The pandemic precipitated a sudden and dramatic decline in the demand for paper produced at the Wisconsin Rapids paper mill, accelerating long-term global trends and ushering in transformational change. On July 31, 2020, the paper mill was indefinitely shut down, laying off over 900 workers. Paper had been continuously produced at the mill since 1904 and the shutdown has created an economic, social, and cultural tsunami.

Join panelists from Marshfield Clinic, UW-Stevens Point, Incourage and the Federal Reserve Bank of Chicago for a historical look at what built central Wisconsin’s paper mills, their economic, social and philanthropic contributions to the community, and discuss what lessons may apply from other industries that have made transformational change from conditions of necessity.

Register for our virtual Future Leaders Conference on Dec 3-4! https://bit.ly/35GC4tAAre you an 18-24 year-old student o...
11/13/2020

Register for our virtual Future Leaders Conference on Dec 3-4! https://bit.ly/35GC4tA

Are you an 18-24 year-old student or professional interested in a career in #informationtechnology or #informationsecurity #futureofwork? Don’t miss your chance to connect with our industry leaders, network with professionals, build your personal brand, learn about our #internship program and get an inside look into the diversity of careers in #IT.

11/12/2020
AgLetter Q3

The Ag Letter for the third quarter is now available. Listen to Senior Business Economist David Oppedahl discuss what’s in it, including the largest increase in six years in farmland values, the challenge of Covid-19 for livestock producers, and what credit conditions look like for farmers.
To read the full report, click here: https://bit.ly/2G5H6Rh

#NEW DATA: The Chicago Fed Survey of Business Conditions Activity Index decreased to -20 in October from +8 in September...
11/12/2020

#NEW DATA: The Chicago Fed Survey of Business Conditions Activity Index decreased to -20 in October from +8 in September, suggesting that economic growth was below trend. #CFSBC https://bit.ly/2JXrhQ0

NEW DATA: National #Financial Conditions Index was down slightly to –0.48 in the week ending Nov 6. #NFCI points to litt...
11/12/2020

NEW DATA: National #Financial Conditions Index was down slightly to –0.48 in the week ending Nov 6. #NFCI points to little change in financial conditions. https://bit.ly/2pLy1HZ

Last year, members from our Veterans Support Group assembled to celebrate and acknowledge our colleagues, friends and fa...
11/11/2020

Last year, members from our Veterans Support Group assembled to celebrate and acknowledge our colleagues, friends and family who served in the armed forces. While we might not be able to gather together today, the message remains the same – #thankyou for your service and sacrifice.
#veterans #veteransday

The Alliance for Regional Development, in partnership with the Federal Reserve Bank of Chicago, will host the 7th Annual...
11/10/2020

The Alliance for Regional Development, in partnership with the Federal Reserve Bank of Chicago, will host the 7th Annual Summit on Regional Competitiveness, A New Decade: Disruption, Driving Innovation, and Embracing Economic Change, November 16th-20th.

This virtual event is free and open to the public. Please register at https://bit.ly/36rnUfY.

The week-long event will include a series of panels and keynote speeches from more than 35 high-profile international, regional, and local thought leaders. Speakers include Charles Evans, president of the Chicago Fed, Chicago Mayor Lori Lightfoot, Beth Ford, CEO of Land O'Lakes, Milwaukee Mayor Tom Barrett, and Karen Freeman-Wilson, CEO of The Chicago Urban League.

Join us this Thursday (11/12 at 1 pm ET/12 pm CT) for a Detroit community forum focusing on how Detroit recovers from th...
11/09/2020

Join us this Thursday (11/12 at 1 pm ET/12 pm CT) for a Detroit community forum focusing on how Detroit recovers from the Covid-19 crisis with Michigan leaders in government, health, community, and business.

Register here: https://bit.ly/3jO5CdK

Leading the discussion will be Charles Evans, president of the Federal Reserve Bank of Chicago, joined by leaders of The Skillman Foundation, DTE Energy Co., Michigan.gov and Henry Ford Health System. The discussion is part of the Chicago Fed’s #ProjectHometown initiative.

The family-run Tommy's Mexican Restaurant, an iconic San Francisco spot open since 1965, has customers so loyal that the...
11/05/2020

The family-run Tommy's Mexican Restaurant, an iconic San Francisco spot open since 1965, has customers so loyal that they’ve eaten at the restaurant since they sat in high-chairs. But when the pandemic hit, community support wasn’t going to be enough to keep the doors open.

Navigating the @U.S. Small Business Administration Paycheck Protection Program with the bank they had been working with wasn’t helping. It took a phone call to East West Bank, a community lender, for Elmy Bermejo of Tommy’s to secure a loan allowing the restaurant to continue serving its iconic margaritas and Yucatecan food while keeping a dozen employees on its payroll and paying utility bills. The loan has helped Bermejo maintain hope.

Learn about the role community lenders are playing in keeping your favorite small businesses open in this Fed Communities series (and subscribe to see the stories coming next). https://bit.ly/2G8F5d6

How can Detroit meet the public health challenge of the Covid-19 pandemic, rebuild the economy, and ensure all residents...
11/02/2020

How can Detroit meet the public health challenge of the Covid-19 pandemic, rebuild the economy, and ensure all residents share in a strong future for the city?

"Detroit Community Forum: Building a Strong and More Equitable Future" brings together an expert panel of government, community, health, and business leaders to discuss visions for how Detroit recovers from the Covid-19 crisis. Join us November 12 at 1:00 pm ET/12:00 pm CT for this #ProjectHometown virtual event.

To register visit: https://bit.ly/3jO5CdK

The event will be hosted by the Federal Reserve Bank of Chicago with President Charles Evans serving as moderator. Joining him on the panel will be Tonya Allen, President and CEO of The Skillman Foundation, Gerard Anderson, Executive Chairman of DTE Energy, Garlin Gilchrist, Lieutenant Governor of Michigan, and Wright Lassiter, III, President and CEO of Henry Ford Health System.

10/30/2020
FRBC Intern Program

#ApplyNow: https://bit.ly/2yxzp5q

There are only a few more days to submit your application to our 2021 internship program. Don’t miss out on your chance to join us this summer to work with industry leaders, contribute to meaningful projects and grow your network. #nowhiring

Watch a replay of “Exploring Career Pathways in Economics and Related Fields,” a recent event to provide Black college s...
10/29/2020

Watch a replay of “Exploring Career Pathways in Economics and Related Fields,” a recent event to provide Black college students with an opportunity to learn more about career pathways in economics and related fields cohosted by the Federal Reserve Bank of Chicago and the Sadie Collective.

The two-day virtual event included panels on career pathways for economists and the research assistant experience; speakers included University of Michigan Provost Susan Collins, Damon Jones, associate professor at The University of Chicago, Anna Gifty Opoku-Agyeman, chief executive officer and co-founder of The Sadie Collective, and Charles Evans, president of the Chicago Fed.

Watch panels and keynote talks here: https://bit.ly/3mx0UCI

Did you know the Federal Reserve Bank of Chicago's #ProjectHometown is examining how our hometowns can recover from the ...
10/27/2020

Did you know the Federal Reserve Bank of Chicago's #ProjectHometown is examining how our hometowns can recover from the pandemic, overcome longstanding inequities, grow stronger, and provide all people with the opportunity to thrive?

Learn more about Project Hometown and watch recent virtual events including Workforce Challenges During Chicago’s Recovery as well as Rebuilding for Resilience: How Will Iowa Thrive After the Pandemic? here: https://bit.ly/3dJAid2

We are hosting a virtual Future Leaders Conference Nov 5-6 for 18-24 year-olds interested in careers in #informationtech...
10/26/2020

We are hosting a virtual Future Leaders Conference Nov 5-6 for 18-24 year-olds interested in careers in #informationtechnology and #informationsecurity.

Register today for your chance to connect with our industry leaders, network with professionals, build your personal brand, learn about our #internship program and get an inside look into the diversity of careers in #IT. https://bit.ly/35GC4tA

Join the Federal Reserve Bank of Chicago and FIA on Oct 29 at 10:30 am CT for Diversity in Financial Markets. We're team...
10/23/2020

Join the Federal Reserve Bank of Chicago and FIA on Oct 29 at 10:30 am CT for Diversity in Financial Markets. We're teaming up with expert panelists to explore past and present experiences, as well as the outlook for diversity in financial markets. Panelists will explore why diversity is important, how to achieve it, and what metrics could be used to determine progress.

Speakers include Christopher Brummer, Professor, Georgetown Law; De'Ana Dow, Partner, Capitol Counsel; Douglas Harris, Managing Director, Promontory; and Petal Walker, Special Counsel, WilmerHale.

Learn more and register here: https://bit.ly/2HsEkMN

Meet Malcolm Thomas, part of our Community Development and Policy Studies Team and an alum of Howard University. Malcolm...
10/21/2020

Meet Malcolm Thomas, part of our Community Development and Policy Studies Team and an alum of Howard University. Malcolm shares that his time spent at a #HBCU is what set him up for success at our organization.
Are you a current student or upcoming #HBCUgrad? Check out our #internship program to kick off your career with us. #ApplyNow: https://bit.ly/2yxzp5q
#Intern #InternRecruiting

The Fed’s COVID-19 #CDFISurvey gathered responses from 229 Community Development Financial Institutions – what did they ...
10/20/2020

The Fed’s COVID-19 #CDFISurvey gathered responses from 229 Community Development Financial Institutions – what did they share? Read our new report to find out. https://bit.ly/35h9PkL

If you missed today’s #ProjectHometown event – The Future of Innovation in an Inclusive Chicago, watch a replay anytime ...
10/19/2020

If you missed today’s #ProjectHometown event – The Future of Innovation in an Inclusive Chicago, watch a replay anytime at https://bit.ly/3noqFXc.

The event included policy experts from @greenwoodprochi, @TreasurerMichaelFrerichs, and @chicagotrading in a discussion on how Chicago’s history of innovation can continue, and include all residents.

Don't miss the next #ProjectHometown virtual event for a discussion on how Chicago’s history of innovation can continue,...
10/18/2020

Don't miss the next #ProjectHometown virtual event for a discussion on how Chicago’s history of innovation can continue, and how it can include all residents of the city. Join us on Monday @ 12:00 pm CT. Register and learn more about the expert panel here: https://bit.ly/3noqFXc

What does celebrating #HispanicHeritageMonth look like to you? Executive board members from the Chicago Fed's Latinx aff...
10/15/2020

What does celebrating #HispanicHeritageMonth look like to you? Executive board members from the Chicago Fed's Latinx affinity group and their families share what they reflect on – from connecting with their community to recognizing accomplishments – during this month of celebration. #HHM

The Federal Reserve is hosting a Q&A webinar for small and medium-sized businesses and nonprofit organizations intereste...
10/14/2020

The Federal Reserve is hosting a Q&A webinar for small and medium-sized businesses and nonprofit organizations interested in learning about the Main Street Lending Program on Wednesday, October 21 at 1 p.m. CT. Attendees will have the opportunity to have questions addressed by Federal Reserve senior officials.

Register for webinar here: https://bit.ly/3dqSBoB
Find more information on the Main Street Lending Program here: www.bostonfed.org/mslp

The MSLP is designed to help credit flow to small- and medium-sized for-profit businesses and nonprofit organizations that were in sound financial condition prior to the pandemic. Once issued by eligible lenders, the Federal Reserve purchases 95% of the loan, while the lender retains 5%. The borrower pays no interest until year two and no principal until year three.

Did you know economists at the Federal Reserve Bank of Chicago are researching the varied impacts of Covid-19 on the US ...
10/13/2020

Did you know economists at the Federal Reserve Bank of Chicago are researching the varied impacts of Covid-19 on the US economy? Read about the pandemic and Asian American employment, the "perfect storm" higher education faces, measuring the recovery in economic activity during the pandemic, and other Covid-19 research here: https://bit.ly/3chd1PJ

Just in time to celebrate #NationalComingOutDay, we are excited to announce a new partnership with Out & Equal Workplace...
10/09/2020

Just in time to celebrate #NationalComingOutDay, we are excited to announce a new partnership with Out & Equal Workplace Advocates in our ongoing journey to create a positive, supportive workplace culture that values diversity of all kinds.

This week, we joined thousands of professionals at the 2020 Workplace Summit to learn, share and connect about #LGBTQ inclusion, racial justice, mental health, belonging in the workplace and so much more. Denise Moore, Vice President of our LGBTQ affinity group, shares what this continued learning brings to our organization. #OESummit

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