By Lucy Ren and Ryan Sachetta
The Federal Reserve is unlikely to raise interest rates before its September meeting and instead will wait into the summer to get a better assessment of the economy before making any decisions, according to two University of Chicago economists.
Former Federal Reserve governor and University of Chicago professor Randall Kroszner and University of Chicago economics professor and former chairman of the Council of Economic Advisers Austan Goolsbee spoke in a wide-ranging discussion on the economy Thursday evening.
Mayor Rahm Emanuel and Cook County Commissioner Jesus “Chuy” Garcia were forced into a runoff election after the first election in February, which led to millions of additional dollars raised and spent and extensive debating and campaigning across the city – and the airwaves.
For in-depth coverage, Medill Reports followed the mayoral candidates and spread across the wards for the 18 aldermanic races that were also forced into runoffs.
The Medill News Service’s Election 2015 video team is hosting three separate electioncasts today. In our first update, Lukas Voss and Empriss Campbell tell us about the candidates’ schedules, continuing reaction to last week’s controversial mayoral debate, high early voting turnout and how the 15th Ward’s new demographic landscape impacts the aldermanic race.
By Steven Chambers and Meghan Tribe
UPDATED: This story’s been updated to reflect late-closing polling places.
Residents in the 1st, 41st, 42nd and 46th wards will have an extra hour to cast their ballots in Chicago mayoral runoff election.
A judge of elections granted a petition of the Board of Election asking for voting hours to be extended in certain precincts in Chicago. Polling places in those precincts are directed to remain open and conduct voting until 8 p.m. All voters in line as of 8 p.m. will be permitted to vote.
This could have an effect on the race for alderman in the 46th ward. Alderman James Cappleman is fighting to keep his seat against challenger, Amy Crawford. Issues in the runoff have focused on crime, poverty, affordable housing and economic development. Crawford forced a runoff when she won 37.6 percent of the vote to Cappleman’s 46.7.
Polling stations in 5 wards stayed open until 8 p.m. on Tuesday. (Jasmine Sanborn/Medill)
Despite reported low turnout in the early hours of election day, Chicago voters still have until 7 p.m. in most wards to cast their ballots in the city’s first runoff mayoral election between Mayor Rahm Emanuel and Jesus “Chuy” Garcia.
But in 18 wards, residents are also voting for their aldermen in runoffs.
Hours before the polls even opened, 15th ward aldermanic candidate Rafael Yañez cautioned his supporters through his official Facebook and Twitter pages about reports of voter fraud concerning absentee ballots in the ward.
On election day, it’s all about the voters. Medill reporters took to the streets to gauge poll turnout, find out who’s changed their votes, and see how campaign advertising has impacted Chicagoans.
By Alysha Khan
When Nia Asimis lost her job in 2008, at the height of the financial crisis, she didn’t bother looking for another one. Instead, she saw opportunity in her mother’s former tailor shop space.
Asimis, 42, opened a restaurant, drawing from her Greek heritage. She called it Nia Mediterranean Tapas. Seven years later, she averages between 2,000 and 3,000 customers a month, $50 per check, and last year, earned $300,00.
By Alysha Khan
Sometimes big trends come on small plates.
Over the past decade, the concept of small plates has expanded from a curiosity to a strong trend that is currently spreading to everything from coffee shops to national chains.
Small plates are shareable portions that give customers a chance to sample more menu items and chefs more culinary freedom.
By Alysha Khan
McDonald’s Corp. new CEO Steve Easterbrook took office March 1 and security analysts are cautiously hopeful that he will be able to revive the struggling fast-food giant.
“It’s going to take time for Steve to put his imprint on things,” said Jack Russo, senior analyst at Edward Jones.
The stock currently has a 67.7 percent hold rating from analysts, 22.6 percent buy rating, and a 9.7 percent sell rating. Only three of the 29 analysts covering the company changed their ratings after the announcement.
By Alysha Khan
During the last quarterly earnings call, Chipotle Mexican Grill Inc. executives warned that if the price of beef continued to rise, the chain may have to raise its prices. We took to the streets of Chicago to talk to Chipotle customers about the potential hike.
By Andrew Fowler and Alysha Khan
Across the country, McDonald’s Corp. is rolling out Create Your Taste, the chain’s new way to customize your burger with a touch screen. Executives say the new initiative could potentially lift sales and bring in more customers.