Economic growth below trend
The Chicago Fed Survey of Economic Conditions Activity Index decreased from -3 in June to -23 in July, suggesting that economic growth is below trend.
The survey of organizations in the Seventh Federal Reserve District reflected an improved outlook for the U.S. economy for the next 12 months, but it also showed increases in labor and non-labor cost pressures.
Life sentence for trafficking cocaine
A Texas man has been sentenced to life in prison after prosecutors said he led an operation to transport more than 325 kilograms of cocaine to southern Illinois.
A jury convicted Daniel Robert, 48, of Houston, Texas, also known as Dewayne Robert, on three conspiracy counts and two counts related to witness tampering.
Ten co-defendants have also been charged.
Cook County announces community safety grants
Cook County officials have announced $25 million in grants intended to improve community safety.
The county is investing $20 million in taxpayer funds to serve residents at risk of being involved in gun violence and $5 million for support of gun-violence survivors and their families.
