• #FedFriday: What is the #FederalReserve doing to help #smallbiz and households during the #COVID19 pandemic? Read the FAQs from @federalreserve. Link https://t.co/FxEeZEt9Ng
    ChicagoFed Fri 26 Jun 2020 20:15

    To send a question or comment about the Federal Reserve's actions in response to COVID-19, please fill out our feedback form. To ensure that your question is properly routed, please select the "Coronavirus (COVID-19)" button.

  • Join @Chicago’s deputy mayor @chicagosamir for a discussion on Chicago and visions for its future and #COVIDRecovery. Register for the July 1 livestream, Vision’s for Chicago’s Future, at Link https://t.co/5rznQcYFYB
    ChicagoFed Fri 26 Jun 2020 19:30

    The virtual event will bring together government, community, health, and business leaders to discuss visions for how Chicago recovers from the COVID-19 crisis.

    The discussion moderated by Charles Evans, president of the Federal Reserve Bank of Chicago, will look at how Chicago can meet the public health challenge of COVID-19, rebuild the economy, and ensure all residents share in a strong future for the city.

  • We enjoyed the opportunity to meet virtually with so many interesting #FutureEconomists at today's #AEASP20 that we co-hosted with @AEASPmsu. We hope you have a dynamic #SummerOfEcon and hope to be able to meet you in person in the future. #Welooklikeeconomists https://t.co/lWZ3UWbgYl
    ChicagoFed Fri 26 Jun 2020 19:10
  • RT @drlisadcook: We've come to the end of @AEASPmsu's @ChicagoFed visit. We are eternally grateful to President Charlie Evans, Vice Preside…
    ChicagoFed Fri 26 Jun 2020 19:10
  • RT @drlisadcook: Wonderful that @ChicagoFed President Evans, Vice President @annap_2013, and Director (and @UMich Provost) Susan Collins gr…
    ChicagoFed Fri 26 Jun 2020 18:20
  • RT @drlisadcook: Great to hear from @ChicagoFed economists, including @lisabarrow on education research using data on Chicago public school…
    ChicagoFed Fri 26 Jun 2020 18:20
  • Thank you. It's an honor to be part of the #AEASP20 #SummerOfEcon. Link
    ChicagoFed Fri 26 Jun 2020 15:25

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  • RT @AEASPmsu: is excited and looking forward to it. Link
    ChicagoFed Fri 26 Jun 2020 15:10

    You can add location information to your Tweets, such as your city or precise location, from the web and via third-party applications. You always have the option to delete your Tweet location history. Learn more

  • Charlie Evans and Anna Paulson welcome #FutureEconomists to the virtual #AEASP20 #SummerOfEcon with @AEASPmsu. They share their thoughts on the importance of improving #diversity in the #economics discipline and #diversityandinclusion at the #ChicagoFed. #Welooklikeeconomists https://t.co/XePi2b1kd7
    ChicagoFed Fri 26 Jun 2020 15:10
  • #ChicagoFed is pleased to co-host today's virtual #AEASP20 with @AEASPmsu for a #SummerOfEcon. #FutureEconomists #Welooklikeeconomists https://t.co/8DdN4UlhGB
    ChicagoFed Fri 26 Jun 2020 14:25
  • What is the Main Street Lending Program? Watch a short video from @BostonFed to learn how the #MSLP may help you: Link https://t.co/yx8c1BcOEU
    ChicagoFed Thu 25 Jun 2020 20:04

    This page was updated on June 8, 2020 to reflect the Federal Reserve’s announcement to expand the Main Street Lending Program to allow more small and medium-sized businesses to be able to receive support.

  • As Chicago reopens from #COVID19, what might the next steps be? Join us on July 1 at 9 am CT for Visions for Chicago’s Future: A Community Forum, a virtual panel discussion about #COVIDRecovery featuring city, community and business leaders. Register: Link https://t.co/7iLJrTLEgG
    ChicagoFed Thu 25 Jun 2020 15:14

    The virtual event will bring together government, community, health, and business leaders to discuss visions for how Chicago recovers from the COVID-19 crisis.

    The discussion moderated by Charles Evans, president of the Federal Reserve Bank of Chicago, will look at how Chicago can meet the public health challenge of COVID-19, rebuild the economy, and ensure all residents share in a strong future for the city.

  • During the #COVID19 pandemic, there has been some commentary about the #unemployment rate and available #UI funds. From the Vault 2011 considers the balance between available unemployment benefits and the unemployment rate. Link https://t.co/xhYiKBOkEr
    ChicagoFed Thu 25 Jun 2020 14:49
  • #FedFiles: François Gourio is a senior economist on our macroeconomics team. François’ research interests include business cycles and firm dynamics. Recent work has looked at the effects of #COVID19 on public firms. Link https://t.co/s1tooh0BeQ
    ChicagoFed Wed 24 Jun 2020 17:28

    François Gourio is a senior economist and research advisor on the macroeconomics team in the economic research department at the Federal Reserve Bank of Chicago. In this position, he conducts research and policy analysis on business cycles, investment, firm dynamics and financial markets.

    Before joining the Chicago Fed in July 2012, Gourio was an associate professor of economics at Boston University, and a visiting assistant professor of finance at the Wharton school of the University of Pennsylvania. In addition to his position at the Chicago Fed, he serves as associate editor for the Journal of Monetary Economics and the Journal of Money, Credit and Banking. Gourio received an A.B. in economics and statistics from ENSAE (France), an M.Sc. in economics from the London School of Economics and a Ph.D. in economics from the University of Chicago.

  • Looking forward to an interesting #COVIDRecovery panel discussion featuring Allison Arwady, @ChiPublicHealth, Helene Gayle, @ChiTrust, Samir Mayekar, @chicagosamir and Jennifer Scanlon, @ULdialogue.
    ChicagoFed Wed 24 Jun 2020 17:28
  • Charles Evans is speaking today at the @CBJournal Mid-Year Economic Review. The full text of his comments, Some Thoughts on the Future of the U.S. #Economy, is now available online. #CBJREVIEW Link https://t.co/xDT8Du7YDv
    ChicagoFed Wed 24 Jun 2020 17:03

    Thank you for the opportunity to speak to you today. The views I’ll express are mine and do not necessarily reflect the views of the Federal Open Market Committee (FOMC) or others in the Federal Reserve System.

    Before I begin my remarks, I want to take a moment to reflect on the police incident in Minneapolis that led to the death of George Floyd and the protests that have spread across the country. Like you, I am outraged and horrified by injustices toward the black community. Racism has no place in our society, and each of us has a responsibility to combat it. At the Chicago Fed we have made diversity and inclusion a priority in our own corporate culture. It is a responsibility we all share.

    We are also together in grappling with the worst pandemic in more than 100 years. Almost overnight, the health care crisis has developed into the sharpest economic downturn we’ve ever experienced. My hope is that states can safely reopen their economies and that, in due...

  • RT @CBJournal: The CBJ's Mid-Year Economic Review live webinar begins in one hour! This virtual event will examine how the economy has chan…
    ChicagoFed Wed 24 Jun 2020 16:53
  • As Chicago reopens from #COVID19, how do we find our way forward? Join us on July 1 for Visions for Chicago’s Future: A Community Forum, a virtual panel discussion about #COVIDRecovery featuring city, community and business leaders. Register at Link https://t.co/mC97gBPBGR
    ChicagoFed Wed 24 Jun 2020 16:13

    The virtual event will bring together government, community, health, and business leaders to discuss visions for how Chicago recovers from the COVID-19 crisis.

    The discussion moderated by Charles Evans, president of the Federal Reserve Bank of Chicago, will look at how Chicago can meet the public health challenge of COVID-19, rebuild the economy, and ensure all residents share in a strong future for the city.

    Register Now
  • Don’t miss the next Fed at Your Desk webinar on June 24 at 11 a.m. CST on the topic of “Labor Market Trends and Workforce Development Responses to #COVID19.” Learn about a new #unemployment monitor from @atlantafed. Register: Link https://t.co/BIwkYy2hml
    ChicagoFed Wed 24 Jun 2020 13:43
  • NEW DATA: National #Financial Conditions Index ticked down to –0.59 in the week ending June 19. The #NFCI suggests little change in financial conditions. Link https://t.co/SnjgmG7bme
    ChicagoFed Wed 24 Jun 2020 12:58

    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.

  • #MoneyMuseum Update: We miss our visitors! We do remain closed. Once we have identified a re-opening date, we will be certain to post here and to the Money Museum website. Link https://t.co/RZvu4DckAd
    ChicagoFed Tue 23 Jun 2020 23:43

     

    If you are in town to see Hamilton the Musical, visit the Money Museum to see Hamilton the Exhibit. Learn about the man who inspired the musical and see what it meant for him to be the Secretary of the U.S. Treasury. Understand how his vision led to the eventual creation of the Federal Reserve System. Learn more in the press release.

  • Minority and women-owned businesses who are interested in learning more about the #FederalReserve’s Main Street Lending Program are encouraged to participate in a webinar on Wednesday, June 24 at 2 p.m. EDT. Register: Link https://t.co/3gi2NG7BoE
    ChicagoFed Tue 23 Jun 2020 20:47

    This webinar is an opportunity for minority and women-owned businesses and interested parties to learn about the Main Street Lending Program and to get answers to questions from senior officials from the Federal Reserve. The session will include an overview of the program, and information about eligibility requirements, loan terms and conditions, and how to get started.

    The Main Street Lending Program is designed to support small and medium-sized U.S. businesses and their employees during this period of financial strain by giving these businesses access to loans. The program is intended to help businesses that were in sound financial condition prior to the onset of the COVID-19 pandemic maintain operations until conditions normalize. Small and medium-sized businesses are integral to the U.S. economy and create jobs for a large share of the U.S. workforce.

    Interested participants are encouraged to visit the Federal Reserve Bank of...

  • New lending programs, including the #MSLP have been designed to assist #smallbiz and communities with the aftereffects of #COVID19. Austin and Keller look at how the #CRA fits into the picture in the latest CDPS blog. Link https://t.co/3sQTWtySJG
    ChicagoFed Tue 23 Jun 2020 20:32

    Federal bank regulators have issued statements and guidance throughout the Covid-19 pandemic encouraging financial institutions to “meet the financial needs of their customers and members in areas affected by Covid-19.” In the past, regulators have indicated how financial institutions can prudently respond to disasters and national emergencies, and how examiners will view a financial institution’s good-faith efforts to address its communities’ and customers’ needs. The agencies more recently issued an interagency Frequently Asked Questions (FAQ) “to clarify how agencies will consider activities responsive to community needs during the Covid-19 emergency,” with regards to financial institutions’ responsibilities under the Community Reinvestment Act (CRA).  

    The FAQ explains how a bank’s retail and community development activities will be considered for CRA examinations, including: 

  • Don’t miss the next Fed at Your Desk webinar on June 24 at 11 a.m. CST on the topic of “Labor Market Trends and Workforce Development Responses to #COVID19.” Learn about a new #unemployment monitor from @atlantafed. Register: Link https://t.co/Vs534UqRI1
    ChicagoFed Tue 23 Jun 2020 18:32
  • What can we learn about #unemployment from #google trends? In a new #ChicagoFedInsights blog, Scott Brave and his co-authors show how a search term can provide insight into #UI claims during #COVID19. Link https://t.co/nhULhAGXLM
    ChicagoFed Tue 23 Jun 2020 17:22

    We use two primary data sources in our analysis: weekly county-level initial UI claims and daily Google Trends indexes for the unemployment topic (see note 2). The county-level initial UI claims data are for Pennsylvania, New York, Texas, and Washington, and we get them from their state governments (through the Haver Analytics database). To these data, we then add Google Trends unemployment topic indexes at the designated market area (DMA) level, which is the smallest level of geographic disaggregation available that is consistent with the county-level UI claims data. We normalize the daily Google Trends indexes for each metro area against the national index to obtain data that are comparable across jurisdictions.3 We then average the daily indexes using the UI claim reference weeks. Finally, we aggregate the county-level UI clams data up to the DMA level to obtain a consistent metro-area-by-week panel of data.4

    Figure 1 shows maps of initial UI claims per 1,000...

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