Illinois quick hits: Chicago Fed president explains vote; Treasurer encourages Bright Start gifts
Chicago Fed president explains vote
Federal Reserve Bank of Chicago President Austan Goolsbee has explained his decision to vote against the Fed’s decision to cut interest rates by a quarter percentage point on Wednesday.
While he voted to lower rates at the September and October Federal Open Market Committee meetings, Goolsbee said the panel should have waited to get more data, especially about inflation, before lowering rates further.
Goolsbee was a member of President Barack Obama’s cabinet and chaired the Council of Economic Advisers from 2009 through 2011.
Treasurer encourages Bright Start gifts
Illinois State Treasurer Michael Frerichs is encouraging holiday gifts of education.
Frerichs says investments to young people’s Bright Start 529 college savings account will mean more to a child’s future than any trending toy or virtual game.
The treasurer said, through September, people have gifted nearly $55 million to Bright Start accounts this year.
Norovirus cases second in nation
According to U.S. Centers for Disease Control and Prevention data, Illinois reported 1,669 norovirus outbreaks over the past decade, placing it second in the nation after Wisconsin.
Analysis from Trace One found that the Illinois outbreaks led to 44,694 reported illnesses.
Across the U.S., the most common exposure setting was long-term care facilities.
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