Chicago Fed National Activity Index: Economic Growth Increased in January

Published on February 23, 2026

The Chicago Fed National Activity Index (CFNAI) rose to +0.18 in January from -0.21 in December. All four broad categories of indicators used to construct the index increased from December, and two categories made positive contributions.

Continue reading on website
Other news

Conflicting Data, Conflicting Results

February 23, 2026
Today we are going to look at the recent CPI data, the PCE data and the problems in the labor market. We are coming closer to the time when the market is going to realize that whatever policy the Federal Reserve chooses, the desired results will be less than we have seen in the past, and indeed may run counter to historical comparisons.

Margin Debt Up 4.4% in January, Hits Eighth Straight Record High

February 23, 2026
Margin debt continued to climb in January, reaching its eighth straight record high at $1.28 trillion. This represents a 4.4% rise from December and marks the ninth straight monthly increase.