The U.S. economy still needs the Federal Reserve’s super-easy monetary policy, a top official said on Thursday, but the recovery may be strong enough June that the central bank will not need to extend its current $600 billion bond-buying program. Get the full story »
Inside these posts: Chicago Fed
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Midwest farmland values rise 12% in 2010
Farmland values in the Midwest posted their second-largest increase in 30 years in 2010, according to a quarterly report released Thursday by the Federal Reserve Bank of Chicago.
Agricultural land values in Iowa, Illinois, Indiana, Wisconsin and Michigan rose 12 percent in 2010. The report surveyed 212 agricultural bankers in the area. More than half said they expect farmland values to continue increasing in the first quarter of 2011. Get the full story »
Midwest Manufacturing Index shows Nov. uptick
The Chicago Fed Midwest Manufacturing Index increased slightly in November to 81.1 percent, according to data released Monday by the Federal Reserve Bank of Chicago.
October’s index was revised to 80.8 percent, a .3 percent increase from September. Get the full story »
Chicago Fed president to get vote on FOMC in Jan.
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 »
Chicago Fed activity index slips
Production declines led to another drop in the nation’s economic activity in September, the Federal Reserve Bank of Chicago reported Monday. Get the full story »
Economists: Hiring outlook improving
The outlook for hiring is improving as U.S. businesses continue to report growing demand and increased profitability, according to a survey of leading economists. In its October industry survey, the National Association of Business Economists said Monday that employment conditions improved in the third quarter to the highest level since the start of the 2008-2009 recession. Get the full story »
Evans: ‘Appropriate’ to boost inflation temporarily
The U.S. Federal Reserve should pump more cash into the economy and temporarily stoke inflation to counter the stifling effects of high unemployment and undesirably low inflation, a top Fed official said on Tuesday.
“For many, my proposal will be a hard pill to swallow,” Chicago Fed President Charles Evans told a group of business leaders in Evanston. Get the full story »
Marquette professor chosen for Chicago Fed panel
From the Milwaukee Journal Sentinel | Marquette University announced Monday that economics professor Abdur Chowdhury has been appointed to the Federal Reserve Bank of Chicago’s Academic Advisory Council.
Oct. 1, 2010 at 10:56 a.m.
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Filed under: Economy, Jobs/employment, Layoffs, Policy, Politics Fed’s Evans: More policy accommodation ‘desirable’
The Federal Reserve should take further action to stimulate the economy, or risk letting it fall into a vicious cycle of joblessness and deflationary pressures, top Fed official said on Friday. Get the full story »
Fed: Midwest manufacturing slows in August
Manufacturing activity slowed in the Midwestern U.S. during August, as automakers chose to stop building up inventories, the Federal Reserve Bank of Chicago reported Monday. Get the full story »
Midwest manufacturing output rises in July
Midwest manufacturing output increased in July, according to the Federal Reserve Bank of Chicago, after revised data showed slight slippage in June. Get the full story »
Fed’s Evans: Economic recovery ‘extremely modest’
Federal Reserve Bank of Chicago President Charles Evans said Tuesday the economic recovery is “extremely modest” but he believes it’s unlikely the economy will fall into a double-dip recession. Get the full story »
Chicago Fed’s Evans: Enough stimulus
Federal Reserve Bank of Chicago President Charles Evans just said in a CNBC interview that he doesn’t think the government should add new stimulus to the system now.
He said numerous approaches have been tried, including the $8,000 tax credit for people buying homes. Those measures moved economic activity forward, Evans said. And the benefit to the economy, he thinks, was to build confidence as observes saw activity pick up. But Evans conclusion about trying it again: “We already did it.”
Chicago Fed’s Evans: Interest rates will stay low
Reuters | Low inflation and high unemployment in the United States justify the
Federal Reserve keeping benchmark interest rates ultra-low for “quite
some time”, Chicago Fed President Charles Evans said on Tuesday.
