Graph and download economic data for Chicago Fed National Financial Conditions Index (NFCI) from 1971-01-08 to 2025-06-20 about financial, indexes, and USA.

During the week ending January 3, 2025, the weekly National Financial Conditions Index (NFCI) of the United States stood at -0.6. This reflects a slight increase from the previous week. The NCFI shows a comprehensive view of the U.S. financial conditions in money markets, debt and equity markets, and banking systems. A positive NFCI value is associated with tighter-than-average financial conditions, while negative values have been historically associated with looser-than-average financial conditions.

An index that can be used to gauge broad financial conditions and assess how these conditions are related to future economic growth. The index is broadly consistent with how the FRB/US model generally relates key financial variables to economic activity. The index aggregates changes in seven financial variables: the federal funds rate, the 10-year Treasury yield, the 30-year fixed mortgage rate, the triple-B corporate bond yield, the Dow Jones total stock market index, the Zillow house price index, and the nominal broad dollar index using weights implied by the FRB/US model and other models in use at the Federal Reserve Board. These models relate households' spending and businesses' investment decisions to changes in short- and long-term interest rates, house and equity prices, and the exchange value of the dollar, among other factors. These financial variables are weighted using impulse response coefficients (dynamic multipliers) that quantify the cumulative effects of unanticipated permanent changes in each financial variable on real gross domestic product (GDP) growth over the subsequent year. The resulting index is named Financial Conditions Impulse on Growth (FCI-G). One appealing feature of the FCI-G is that its movements can be used to measure whether financial conditions have tightened or loosened, to summarize how changes in financial conditions are associated with real GDP growth over the following year, or both.

The Chicago Fed's National Financial Conditions Index (NFCI) provides a comprehensive weekly update on U.S. financial conditions in money markets, debt and equity markets and the traditional and "shadow" banking systems. Positive values of the NFCI indicate financial conditions that are tighter than average, while negative values indicate financial conditions that are looser than average.

For further information, please visit the Federal Reserve Bank of Chicago (http://www.chicagofed.org/webpages/publications/nfci/index.cfm).

United States - Chicago Fed National Financial Conditions was -0.52370 Index in June of 2025, according to the United States Federal Reserve. Historically, United States - Chicago Fed National Financial Conditions reached a record high of 5.14887 in July of 1974 and a record low of -1.10468 in August of 1993. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Chicago Fed National Financial Conditions - last updated from the United States Federal Reserve on June of 2025.

United States Financial Conditions Impulse on Growth, FCI-G Index (OneYr Lookback) data was reported at 0.005 Index in Mar 2025. This records an increase from the previous number of -0.179 Index for Feb 2025. United States Financial Conditions Impulse on Growth, FCI-G Index (OneYr Lookback) data is updated monthly, averaging -0.299 Index from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 2.084 Index in Feb 2009 and a record low of -1.608 Index in Mar 2021. United States Financial Conditions Impulse on Growth, FCI-G Index (OneYr Lookback) data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.S021: Financial Conditions Impulse on Growth.

Graph and download economic data for Chicago Fed National Financial Conditions Leverage Subindex (NFCILEVERAGE) from 1971-01-08 to 2025-06-13 about financial, indexes, and USA.

United States FCI-G Index: 10-Year Treasury data was reported at -0.047 Index in Mar 2025. This records an increase from the previous number of -0.053 Index for Feb 2025. United States FCI-G Index: 10-Year Treasury data is updated monthly, averaging 0.012 Index from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 0.059 Index in Oct 1993 and a record low of -0.075 Index in Nov 2023. United States FCI-G Index: 10-Year Treasury data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.S021: Financial Conditions Impulse on Growth.

United States Financial Conditions Impulse on Growth, FCI-G Index (Baseline) data was reported at -0.200 Index in Mar 2025. This records an increase from the previous number of -0.265 Index for Feb 2025. United States Financial Conditions Impulse on Growth, FCI-G Index (Baseline) data is updated monthly, averaging -0.484 Index from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 1.969 Index in Feb 2009 and a record low of -1.752 Index in Jun 2021. United States Financial Conditions Impulse on Growth, FCI-G Index (Baseline) data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.S021: Financial Conditions Impulse on Growth.

The Chicago Fed’s National Financial Conditions Index (NFCI) provides a comprehensive weekly update on U.S. financial conditions in money markets, debt and equity markets, and the traditional and “shadow” banking systems. Source: http://www.chicagofed.org/webpages/publications/nfci/index.cfm.

"Positive values of the NFCI indicate financial conditions that are tighter than average, while negative values indicate financial conditions that are looser than average."

"The three subindexes of the NFCI (risk, credit and leverage) allow for a more detailed examination of the movements in the NFCI. Like the NFCI, each is constructed to have an average value of zero and a standard deviation of one over a sample period extending back to 1971. The risk subindex captures volatility and funding risk in the financial sector; the credit subindex is composed of measures of credit conditions; and the leverage subindex consists of debt and equity measures. Increasing risk, tighter credit conditions and declining leverage are consistent with tightening financial conditions. Thus, a positive value for an individual subindex indicates that the corresponding aspect of financial conditions is tighter than on average, while negative values indicate the opposite." Source: http://www.chicagofed.org/webpages/research/data/nfci/background.cfm.

For further information, please visit the Federal Reserve Bank of Chicago's NFCI website at http://www.chicagofed.org/webpages/publications/nfci/index.cfm.

United States FCI-G Index: 1-Yr Lookback: Federal Funds Rate data was reported at -0.078 Index in Mar 2025. This records an increase from the previous number of -0.080 Index for Feb 2025. United States FCI-G Index: 1-Yr Lookback: Federal Funds Rate data is updated monthly, averaging 0.000 Index from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 0.295 Index in Jan 2023 and a record low of -0.285 Index in Dec 2001. United States FCI-G Index: 1-Yr Lookback: Federal Funds Rate data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.S021: Financial Conditions Impulse on Growth.

United States FCI-G Index: House Prices data was reported at -0.053 Index in Mar 2025. This records a decrease from the previous number of -0.047 Index for Feb 2025. United States FCI-G Index: House Prices data is updated monthly, averaging -0.157 Index from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 0.400 Index in Apr 2009 and a record low of -0.617 Index in May 2022. United States FCI-G Index: House Prices data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.S021: Financial Conditions Impulse on Growth.

Abstract of associated article: We use factor augmented vector autoregressive models with time-varying coefficients and stochastic volatility to construct a financial conditions index that can accurately track expectations about growth in key US macroeconomic variables. Time-variation in the models׳ parameters allows for the weights attached to each financial variable in the index to evolve over time. Furthermore, we develop methods for dynamic model averaging or selection which allow the financial variables entering into the financial conditions index to change over time. We discuss why such extensions of the existing literature are important and show them to be so in an empirical application involving a wide range of financial variables.

United States FCI-G Index: Federal Funds Rate data was reported at -0.052 Index in Mar 2025. This records a decrease from the previous number of -0.049 Index for Feb 2025. United States FCI-G Index: Federal Funds Rate data is updated monthly, averaging -0.001 Index from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 0.294 Index in Jan 2023 and a record low of -0.270 Index in Jan 2009. United States FCI-G Index: Federal Funds Rate data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.S021: Financial Conditions Impulse on Growth.

Graph and download economic data for St. Louis Fed Financial Stress Index (STLFSI4) from 1993-12-31 to 2025-06-20 about FSI and USA.

United States FCI-G Index: 1-Yr Lookback: Dollar Value data was reported at 0.252 Index in Mar 2025. This records a decrease from the previous number of 0.281 Index for Feb 2025. United States FCI-G Index: 1-Yr Lookback: Dollar Value data is updated monthly, averaging 0.100 Index from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 0.758 Index in Apr 2009 and a record low of -0.460 Index in Apr 2008. United States FCI-G Index: 1-Yr Lookback: Dollar Value data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.S021: Financial Conditions Impulse on Growth.

United States FCI-G Index: 1-Yr Lookback: House Prices data was reported at -0.061 Index in Mar 2025. This records an increase from the previous number of -0.074 Index for Feb 2025. United States FCI-G Index: 1-Yr Lookback: House Prices data is updated monthly, averaging -0.143 Index from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 0.317 Index in Mar 2009 and a record low of -0.507 Index in Aug 2021. United States FCI-G Index: 1-Yr Lookback: House Prices data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.S021: Financial Conditions Impulse on Growth.

The Consumer Sentiment Index in the United States stood at 64.7 in January 2025, an increase from the previous month. The index is normalized to a value of 100 in December 1964 and based on a monthly survey of consumers, conducted in the continental United States. It consists of about 50 core questions which cover consumers' assessments of their personal financial situation, their buying attitudes and overall economic conditions.

United States FCI-G Index: 1-Yr Lookback: Mortgage Rate data was reported at -0.011 Index in Mar 2025. This records a decrease from the previous number of 0.015 Index for Feb 2025. United States FCI-G Index: 1-Yr Lookback: Mortgage Rate data is updated monthly, averaging -0.029 Index from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 0.544 Index in Nov 2022 and a record low of -0.256 Index in Jan 1996. United States FCI-G Index: 1-Yr Lookback: Mortgage Rate data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s United States – Table US.S021: Financial Conditions Impulse on Growth.

This paper studies the effects of a conventional monetary policy shock in the USA during times of high financial stress. The analysis is carried out by introducing a smooth transition factor model where the transition between states (?normal? and high financial stress) depends on a financial conditions index. Employing a quarterly dataset over the period 1970:Q1 to 2008:Q4 containing 108 US macroeconomic and financial time series, I find that a monetary policy shock during periods of high financial stress has stronger and more persistent effects on macroeconomic variables such as output, consumption and investment than it has during normal times. Differences in effects among the regimes seem to originate from nonlinearities in both components of the credit channel, i.e. the balance sheet channel and the bank-lending channel.