The Chicago Fed Survey of Economic Conditions (CFSEC) is a survey of organizations located in the Seventh Federal Reserve District. The Chicago Fed produces diffusion indexes based on the quantitative questions in the survey that are released at 10:00 a.m. ET on scheduled days, normally in the second week of each calendar month.
At the onset of the Covid-19 pandemic, many workplaces in the U.S. were closed (either voluntarily or by government order) to limit the spread of the virus. Some of these workplaces, such as factories, reopened within a few months. Yet many other workplaces remained closed, and the vast majority of their employees continued to perform their tasks off-site. The pandemic has stretched on long enough that for many employees, remote work has become a new normal. But now, with Covid-19 vaccines widely available in the U.S., many long-closed workplaces are starting to reopen, and workplace leaders are implementing return-to-office plans. To what extent have employees been working remotely since the pandemic began? And to what extent might employers continue remote work arrangements into the future? In this blog post, we present answers to those questions from a special Chicago Fed Survey of Business Conditions (CFSBC), which was conducted during the period of July 12–16, 2021....
The Chicago Fed’s National Financial Conditions Index (NFCI) provides a comprehensive weekly update on U.S. financial conditions in money markets, debt and equity markets and the traditional and “shadow” banking systems. Because U.S. economic and financial conditions tend to be highly correlated, we also present an alternative index, the adjusted NFCI (ANFCI). This index isolates a component of financial conditions uncorrelated with economic conditions to provide an update on financial conditions relative to current economic conditions.
The NFCI and ANFCI are updated on a weekly basis at 8:30 a.m. ET on Wednesday, and cover the time period through the previous Friday. When a federal holiday falls on a Wednesday or earlier in the week, the NFCI and ANFCI will be updated on Thursday (release dates).
At the onset of the Covid-19 pandemic, many workplaces in the U.S. were closed (either voluntarily or by government order) to limit the spread of the virus. Some of these workplaces, such as factories, reopened within a few months. Yet many other workplaces remained closed, and the vast majority of their employees continued to perform their tasks off-site. The pandemic has stretched on long enough that for many employees, remote work has become a new normal. But now, with Covid-19 vaccines widely available in the U.S., many long-closed workplaces are starting to reopen, and workplace leaders are implementing return-to-office plans. To what extent have employees been working remotely since the pandemic began? And to what extent might employers continue remote work arrangements into the future? In this blog post, we present answers to those questions from a special Chicago Fed Survey of Business Conditions (CFSBC), which was conducted during the period of July 12–16, 2021....
The Chicago Fed’s National Financial Conditions Index (NFCI) provides a comprehensive weekly update on U.S. financial conditions in money markets, debt and equity markets and the traditional and “shadow” banking systems. Because U.S. economic and financial conditions tend to be highly correlated, we also present an alternative index, the adjusted NFCI (ANFCI). This index isolates a component of financial conditions uncorrelated with economic conditions to provide an update on financial conditions relative to current economic conditions.
The NFCI and ANFCI are updated on a weekly basis at 8:30 a.m. ET on Wednesday, and cover the time period through the previous Friday. When a federal holiday falls on a Wednesday or earlier in the week, the NFCI and ANFCI will be updated on Thursday (release dates).
August 9, 2021
By Scott A. Brave, Senior Economist, Federal Reserve Bank of Chicago
The term “big data” means different things to different people. To me, big data refers to the rapidly growing and constantly changing frontier of information collection and data analytics, accumulated mostly by the private sector.
As the pandemic unfolded, the speed with which the economy responded to the spread of the virus and the public policy actions that followed laid bare the need for accurate and timely measures of economic activity for governmental policymakers. This was particularly true for measures of consumer spending—which helped to track the effects of the Covid-19 crisis on business (and government) revenues.
My colleagues at the Chicago Fed and I have spent the better part of the past year learning about and coming up with novel ways to make use of big data for this purpose. Recently, we began publicly releasing one of the fruits of our efforts: an...
Lately, not a day goes by without a major player in the auto industry issuing a press release that signals a shift toward electrification. According to the New York Times, as many as 100 electric vehicle (EV) models will be featured in showrooms by 2025.1 All three carmakers with historical ties to Detroit have major plans to develop more EVs. General Motors Co. (GM) will invest $20 billion to produce electric and autonomous vehicles by 2025—with the goal of having 20 EV models in its global lineup even sooner (by 2023). Ford Motor Co. intends to spend over $11 billion on EV development by 2022. Ford also stated in 2020 that it will add 300 jobs at its Rouge Complex in Dearborn, Michigan, to support battery assembly and the production of its new F-150 Lightning models (both hybrid and fully electric), scheduled for release in 2022. Like its competitors, Fiat Chrysler Automobiles N.V. (now Stellantis N.V.) announced that it will invest over $10.5 billion in EVs—with the...
The Chicago Fed National Activity Index (CFNAI) is a monthly index designed to gauge overall economic activity and related inflationary pressure. The CFNAI is released at 8:30 a.m. ET on scheduled days, normally toward the end of each calendar month.
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