Chicago Fed and University of Illinois form regional research lab

Over much of its 75-year history the Federal Reserve Bank of Chicago has worked to understand more fully and describe more accurately the changing economic structure of the Seventh Federal Reserve District. The Seventh District-- all of Iowa and major segments of Indiana, Illinois, Michigan, and Wisconsin--lies in the heart of the Midwest. With major industrial and commercial centers, such as Chicago, Detroit, Des Moines, Indianapolis, and Milwaukee, as well as vitally important agricultural resources, the Seventh District is also near the heart of the U.S. economy. In its research on this region, the Bank has sought out new data sources and institutions with which to cooperate to improve and enhance the knowledge base on the District economy.