This forum is part of Project Hometown, a new initiative from the Chicago Fed that aims to foster discussion around the challenges and opportunities confronting hometowns in the Seventh District.

In Chicago, as in all major cities, the health impact of the Covid-19 pandemic has been felt disproportionally by some groups and neighborhoods. Similarly, the decline in economic activity necessary to reduce the spread of the virus has had a disparate impact on employment around the city.

Our goal for this forum is to bring together diverse perspectives on how neighborhoods can recover from the pandemic, overcome long-standing inequities, and rebuild for resilience.

In this one-hour virtual convening, experts will discuss:

This year, for the first time, companies applied separately to be on this list—previously, this list was determined by answers to questions asked of the 100 Best Companies. These organizations offer either substantial paid gender-neutral or paternity leave, plus other benefits that help dads be their best at home and at work. 

Although we have named Best Companies for Dads before, this year companies applied directly for this honor, and almost 200 vied for this list. We emphasized paid parental leave offered and utilized, fertility benefits, employee-resource groups for men, and childcare benefits.

The 2020 Working Mother 100 Best Companies application includes more than 400 questions on leave policies, workforce representation, benefits, childcare, advancement programs, flexibility policies and more. It surveys the availability and usage of these programs, as well as the accountability of the many managers who oversee them.

All applicants receive feedback showing how they compare with other applicants; however, the names of applicants that do not make the list are kept confidential. Company profiles and data come from submitted applications and reflect 2019 data.

The Federal Reserve System invites you to virtually join the fifth annual Banking and the Economy: A Forum for Minorities in Banking. The forum is designed to gather high potential middle management to senior level minority leaders in the financial services sector and deliver industry, leadership and professional development experiences that will enhance their careers and networks.

The Chicago Fed Survey of Business Conditions (CFSBC) is a survey of business contacts 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.

The severe and prolonged economic consequences of the Covid-19 pandemic have stressed the earnings of tens of millions of households. The pandemic has also widened the racial disparities in health and economic outcomes for Black and Latinx families. And the existing social safety net has not provided sufficient cash and in-kind transfers to support families dealing with the impacts of surging unemployment, waning fiscal relief, and extended remote learning. These shortfalls are likely to affect not just households’ immediate needs, but also, as research suggests, their long-term economic prospects.

Policymakers, philanthropists, nonprofits, and business leaders may wish to contemplate interventions that jointly address the immediate economic distress and lay the groundwork to help close economic gaps for Black and Latinx households, who are at heightened risk of falling even farther behind White households as a result of this public health and economic crisis.

Download the indexes. | Download the list of indicators.

The Detroit Economic Activity Index measures growth in economic activity for the city of Detroit. The index is constructed using a mixed-frequency dynamic factor model of 24 Detroit-specific data series capturing income, employment, residential and commercial real estate activity, electric customer counts, tax revenues, and port activity. It is calibrated so that Detroit’s historical growth trend (average) equals zero, meaning that an index value greater than zero implies the city’s economic activity is growing faster than trend and, conversely, a value less than zero implies its activity is growing slower than trend. The index is then measured in standard deviation units from trend growth. The DEAI is released at 10 a.m. ET on scheduled days, on a quarterly basis, toward the beginning of March, June, September, and December.

Welcome to LaSalle Street, a podcast on derivatives markets, clearinghouses, financial technology, and emerging issues shaping our global financial markets. This show is hosted by the Financial Markets Group at the Federal Reserve Bank of Chicago, headquartered on LaSalle Street in the heart of Chicago’s financial district. On the podcast we’ll explore new research and hold discussions on central clearing, trade execution, financial technology, and systemic stability. So come join us on LaSalle Street.

Browse all episodes below.

Thank you for inviting me to offer my views on the economy and the path ahead. I should state at the outset that these views are my own and do not necessarily represent the views of my colleagues on the Federal Open Market Committee (FOMC) or others in the Federal Reserve System.

All of us have a role to play in recovering from the pandemic, which has taken a tremendous human toll and continues to pose many challenges. I am especially grateful for the services that health care and other essential workers have been providing throughout this ordeal. Their dedication has been indispensable and inspiring.

We obviously have lots of work ahead of us. As the economy heals, leadership by organizations such as yours will be critical in supporting local communities and businesses and in promoting development opportunities to help us achieve more vibrant economic outcomes for everyone in society.

My remarks today will focus on a few points that are fundamental for...

Download the indexes. | Download the list of indicators.

The Detroit Economic Activity Index measures growth in economic activity for the city of Detroit. The index is constructed using a mixed-frequency dynamic factor model of 24 Detroit-specific data series capturing income, employment, residential and commercial real estate activity, electric customer counts, tax revenues, and port activity. It is calibrated so that Detroit’s historical growth trend (average) equals zero, meaning that an index value greater than zero implies the city’s economic activity is growing faster than trend and, conversely, a value less than zero implies its activity is growing slower than trend. The index is then measured in standard deviation units from trend growth. The DEAI is released at 10 a.m. ET on scheduled days, on a quarterly basis, toward the beginning of March, June, September, and December.

The cost of borrowing U.S. dollars through foreign exchange (FX) swap markets increased significantly at the beginning of the Covid-19 pandemic in February 2020, indicated by larger deviations from covered interest rate parity (CIP).1 CIP deviations narrowed again when the Federal Reserve expanded its swap lines to support U.S. dollar liquidity globally—by enhancing and extending its swap facility with foreign central banks and introducing the new temporary Foreign and International Monetary Authorities (FIMA) repurchase agreement facility for foreign and international monetary authorities.2 Recent research by Meisenzahl, Niepmann, and Schmidt-Eisenlohr (2020) shows how wider CIP deviations result in higher borrowing costs for U.S. corporations in the leveraged loan market. In this article, we discuss this finding, which suggests that, besides other channels, the Federal Reserve’s initiatives to provide global U.S. dollar liquidity contributed to easier financial...