Financial conditions (NFCI)
Chicago Fed index; positive = tighter-than-average conditions.
The Chicago Fed's NFCI compresses 105 financial series — money markets, credit, leverage — into a weekly index where zero means average conditions. Sustained positive readings have accompanied every credit-driven downturn since 1973, often tightening before labor data reacts.
Rule
{"type":"levels","levels":[{"state":"critical","op":">","threshold":1},{"state":"warning","op":">","threshold":0.5},{"state":"watch","op":">","threshold":0}],"exit_below":-0.1}
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