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The Federal Reserve Bank of Chicago is pictured in a file photo. (hapabapa / iStock)
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New data released this week showed inflation cooled slightly in June. But there’s still uncertainty around what comes next for this issue, which has been a thorn in the side of many Americans for the past five years.
“You never want to make too much hay out of any one number,” said Austan Goolsbee, president of the Federal Reserve Bank of Chicago.
While one month of promising data may be a welcome sign, it will take more time to see the full picture of where prices are headed.
And just two months after the confirmation of new Federal Reserve chair Kevin Warsh, the central bank — tasked with keeping prices stable, and jobs plentiful — has a lot to navigate.
After several months of inflation “going the wrong way,” according to Goolsbee, the annual inflation rate for all items dropped to 3.5% in June. Excluding food and energy, inflation sat at 3%.
Still, consumer confidence is weak. There’s uncertainty related to the Iran war, and some of its ripple effects are still to be felt. Months more of the conflict could start to disrupt broader supply chains. But just the spike in energy prices is enough to spill over into logistics and transportation, ultimately raising prices for goods.
“The impact of higher energy prices is most directly felt at the gas pump, or flying,” Goolsbee said. “But then, you will likely see (that increase) work its way through the economy.”
Market uncertainty could be affecting the job market in the Midwest region. The hiring rate is as low as what would be expected during a recession, while the layoff rate is as low as would be expected during an economic boom.
“We’re still trying to wrap our heads around this labor market, where those two things are happening simultaneously,” Goolsbee said. “It’s very unusual.”
Now, the central bank is navigating this landscape with a new leader.
Goolsbee is no stranger to Warsh, who was confirmed by Congress in May. When Warsh was a Federal Reserve governor during the global financial crisis in 2009, Goolsbee was a member of then-President Barack Obama’s Council of Economic Advisers.
“I saw his (Warsh’s) actions in a moment of real stress in the economy, in 2009, ‘10, ‘11. He was real level-headed, so I’m optimistic” about his tenure as chair, Goolsbee said.
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From left: Chrissy Huerta, Courtney McKinney and Trinity Coats at Brave Space Alliance. (WTTW News)
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For Trinity Coats, fashion has always been a way to express who she is.
“You can never go wrong with having something black,” she said while flipping through clothing racks inside the Dignity Closet at Brave Space Alliance.
Coats has been coming to the South Side organization for the past two years. What began as a search for clothing and other necessities became something much more.
“Beyond just the services you get, you get community here,” Coats said.
For many transgender people, finding an affirming place where they can simply be themselves isn’t something they take for granted. As transgender identities continue to be the subject of political and legal debates across the country, organizations like Brave Space Alliance say the demand for their services remains constant.
Some backstory:
Founded in 2017, Brave Space Alliance was created to help address gaps in services for Black and Brown transgender people on Chicago’s South Side. Today, the organization provides housing support, food assistance, health programming, clothing through its Dignity Closet, and other resources designed to meet people’s immediate needs while helping them build stability.
“We provide dignified services,” community health manager Chrissy Huerta said. “Health, housing, food and identity are our main pillars that we basically go by, and we feel like that should provide essential services for a person to start their life and then build accordingly.”
The need remains significant. According to the 2022 U.S. Transgender Survey, half of transgender adults delayed or avoided medical care because they feared being mistreated, and nearly one in five experienced homelessness during the previous year.
“I get calls every day,” senior outreach coordinator Courtney McKinney said. “People come up here looking for me every day. For housing. They ask them for clothing, need their hair done, need their makeup done. Those are services that we have here.”
Brave Space Alliance leaders said that message has become even more important as federal policies affecting transgender Americans continue to change.
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Chicago City Hall is pictured in a file photo. (Michael Izquierdo / WTTW News)
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A proposed bird-friendly building ordinance was sprung from legislative limbo during Wednesday’s Chicago City Council meeting.
The ordinance, which would establish design standards intended to prevent bird deaths from building collisions, was introduced in March. Ald. Anthony Beale (9th Ward) invoked a procedure that sent the ordinance to the Rules Committee, commonly known as the place where legislation goes to die.
Ald. Maria Hadden (49th Ward), who introduced the bird-friendly ordinance, later told WTTW News the legislation still had life in it.
At Wednesday’s City Council meeting, Hadden invoked a procedural rule that allowed for the ordinance to be discharged from Rules without further discussion, simply requiring a majority affirmative vote from her fellow alderpeople.
Hadden had the votes, and the bird-friendly ordinance has now been sent to the Zoning Committee for consideration.
Advocates in favor of the ordinance had marshaled their resources in recent months, applying pressure to alderpeople and taking their campaign to the public via social media.
Supporters of the measure include architect Jeanne Gang, who made bird-friendly design the centerpiece of “Flyway City,” an exhibit her firm mounted in collaboration with the Chicago Architecture Center.
“We really don’t need to be killing birds with our buildings,” Gang said at a preview of the exhibit. “It’s not necessary and it’s so avoidable.”
Hadden invited her fellow City Council members to join her on a tour of “Flyway City” July 21 to learn more about the issue of bird collisions and bird-friendly design, with experts on hand to answer questions.
“We’re still working” on the final ordinance, Hadden said.
Next steps are to continue meeting with stakeholders and to coordinate a hearing date with Zoning Committee Chairman Ald. Gilbert Villegas (36th Ward).
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Back in the Day: July 17, 1974 - Illinois Gives First Lottery Ticket License to Chicago Coffee Shop
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In the early 1970s, only nine states had a lottery to generate voluntary public revenue, but in 1973, Illinois became the 10th. With an official launch on July 30, 1974, the state started introducing lottery ticket licenses to local businesses. On this day 52 years ago, a mom-and-pop coffee shop in Chicago became the first establishment to be able to legally sell tickets to the Illinois lottery. Al and Theresa Prisco owned the shop at 1419 W. Taylor St., which was the site of an opening ceremony and press conference to promote the new lottery. “We’ve been here 25 years,” Al Prisco told the Tribune. “I didn’t expect to celebrate it with a bang like this.” Last year, the Illinois lottery yielded $796 million in proceeds for public education and special causes.
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What's the best place for a Chicago-style hot dog?
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Email DailyChicagoan@wttw.com with your responses and your answers might be published. Here's what you had to say:
"Home Depot (Fixin' Franks). Don't laugh until you try one. The Best." — Michael G.
“No doubt !! Gene and Jude's for your hot dogs. In business for 80 YEARS. Best fries you'll ever have ! But bring your own ketchup!!” — Marcia N.
“Fatso's all day every day. Char-grilled, Vienna beef, and a natural casing.” — Scott F.
“The Wiener’s Circle is not just a must-visit destination due to the now world-famous staff - they also make a great char dog! But my personal favorite, for sentimental reasons, is Wolfy’s on Peterson. Always a delicious classic Chicago dog - just follow the hotdog in the sky!” — Jill C.
“Has to be Superdawg on Devon and Milwaukee.” — Mary V.
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