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Chicago

Election 2024

Democratic National Convention not the pick-me-up hoped for by Chicago area businesses

by Nova Safo
Aug 21, 2024
Restaurants near the DNC taking place in downtown Chicago were hoping for a shot in the arm from the event, but some are discouraged.
Scott Olson/Getty Images
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Election 2024

With Chicago in the spotlight during the DNC, how is the city's economy faring?

by Nova Safo
Aug 21, 2024
Chicago has one of the highest unemployment rates of any major U.S. city.
"More access to low-interest capital would help," said Mary Aregoni, owner of Saigon Sisters restaurant in Chicago.
Nova Safo/Marketplace
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Fed is nearing a point when it is not a matter of raising rates, but how long to keep them high, says Chicago Fed CEO Austan Goolsbee

by Kai Ryssdal and Andie Corban
Sep 7, 2023
There is growing confidence that the Fed can pull off lowering inflation without a recession, said Chicago Fed CEO Austan Goolsbee.
"There's a growing confidence that we can pull off" a soft landing, says Chicago Fed chief Austan Goolsbee. "The only thing I want to caution you is that it's not a guarantee."
Mark Wilson/Getty Images
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Watch prices and credit ahead of next rate decision, Chicago Fed CEO says

by Kai Ryssdal and Andie Corban
Apr 19, 2023
The intensity of a coming economic slowdown will depend on how much banks tighten credit conditions, says Austan Goolsbee.
Austan Goolsbee jokes that his informal speaking style makes the Fed's media staff sweat. "Every time I stand up, they’re like, 'Oh, no.'”
Chip Somodevilla/Getty Images
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Walmart’s store closures in Chicago highlight the challenges of urban big box retail

by Stephanie Hughes
Apr 13, 2023
Walmart says that, collectively, its Chicago stores aren’t profitable. But academics point out they’ll still leave a hole when they’re gone.
A worker collects shopping carts at a Walmart store in Chicago. The company announced the closure of half of its stores in the city this week.
Scott Olson/Getty Images
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Is racist housing policy the real villain in "Candyman"?

by Kai Ryssdal and Richard Cunningham
Oct 21, 2021
Brentin Mock of Bloomberg CityLab says Candyman represents what bad, racist housing policy created and what gentrification tries to erase.
A crew demolishes part of Chicago's Cabrini-Green housing project in 2011. The site, which now hosts luxury apartments and high-end shops, is the setting for the horror film "Candyman."
Scott Olson via Getty Images
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In Chicago, affordable housing development has bypassed wealthier neighborhoods

by Natalie Moore
Apr 19, 2021
Most tax credits from a program encouraging developers to build or renovate affordable units went to majority-Black neighborhoods.
A racial equity study in Chicago found that most affordable housing wasn't going in areas that have amenities like public transportation. Above, people rally for affordable housing in Miami.
Joe Raedle/Getty Images
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COVID-19

In Chicago, COVID-19 takes a toll in Black and Latinx neighborhoods

by Natalie Moore
Sep 21, 2020
Family members of one Black 32-year-old woman who died say they are concerned about the lack of communication from the hospital before her death.
Health care workers transfer a patient to a different unit at a hospital. The pandemic is disproportionately affecting Black and Latinx patients.
Mark Felix/AFP via Getty Images
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Reimagining the Economy

Chicago Mayor Lori Lightfoot on rebuilding trust between the city and its people

by David Brancaccio , Meredith Garretson and Daniel Shin
Aug 17, 2020
Lightfoot wants to "unwind" Chicago's "addiction to fines and fees" so as to not drive people into bankruptcy and out of the economy.
Scott Olson/Getty Images
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Chicago developers are making use of opportunity zone investment

by Natalie Moore
Jan 23, 2020
But economic impact is hard to track without oversight at state or federal level. Critics say that's not good enough.
The Chicago Housing Authority is using opportunity zone money from PNC Bank for a commercial building in North Lawndale on the city's West Side.
Development design courtesy of Chicago Housing Authority
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