Federal Reserve Bank of Chicago

The Civic Federation and the Federal Reserve Bank of Chicago co-hosted an event on Wednesday titled "Taxing Times, Smarter Strategies."

"I haven't made up my mind for what should happen in September," Goolsbee said.

Central bankers must augment what they learn from incoming data with clues gleaned from the real economy and avoid putting too much weight on financial markets, said Federal Reserve Bank of Chicago President Austan Goolsbee.

Two of the Federal Reserve board's seven governors abstained from supporting the selection of former Obama aide Austan Goolsbee to become president of the Chicago Fed, according to a record of the vote.

The Federal Reserve Bank of Chicago appointed Austan Goolsbee, an economist and former adviser to President Barack Obama, as its new president to replace Charles Evans, who retires in January.

"I think that we've got a good plan in place. We could very well do 75 in September," he said.

Two Federal Reserve officials responded to softening inflation data by saying it doesn't change the U.S. central bank's path toward even higher interest rates this year and next.

The Federal Reserve Bank of Chicago’s National Activity Index held at minus 0.19 in June, the first back-to-back negative readings since the pandemic started in early 2020.

If the Federal Reserve raises its key interest rate somewhat above what it thinks is a “neutral” level for the economy and stops there, that should help bring inflation down from current elevated levels, Chicago Fed President Charles Evans said.

Federal Reserve Bank of Chicago President Charles Evans said the central bank should increase interest rates to close to its “neutral” setting this year, implying as many as seven quarter-point hikes.

The state expects to cut interest costs through the early repayment on the loan taken out through the Federal Reserve's emergency lending program to help pay down healthcare bills.

It will probably take “quite some time” for Federal Reserve officials to conclude the economy has made substantial progress following Friday’s disappointing jobs report, Chicago Fed President Charles Evans said.

Federal Reserve Bank of Chicago President Charles Evans says monetary policy will need to remain “accommodative for quite a while,” since inflation won’t hit a 2% average for “a long time.”

Lindsey Piegza says politics and consumer's continued fear may make the recovery more difficult.

Pending home sales unexpectedly declined in October, the second consecutive month they dropped.

The economic news was mixed again Monday, with home sales unexpectedly dipping, while two reads of manufacturing showed expansion continued, but one suggested a slower rate of growth.

The federal funds rate target should remain at the zero lower bound until inflation reaches 2% and remains headed higher, Federal Reserve Bank of Chicago President Charles Evans said Monday.

The U.S. central bank’s new guidance on interest rates doesn’t preclude tightening before inflation averages 2% for some period of time, Chicago Fed President Charles Evans said.

The Fed has been chasing its 2% inflation goal since 2012 and has yet to even come close to reaching it, thanks in part, to technology and globalization.

Charles Evans, president of the Federal Reserve Bank of Chicago, said the economy won't be back at pre-pandemic levels until near the end of 2022.