Federal Reserve Bank of Cleveland

Federal Reserve Bank of Cleveland The Federal Reserve Bank of Cleveland was established in 1914 as a part of the Federal Reserve System, the central bank of the United States.

ADDRESS: Federal Reserve Bank of Cleveland, 1455 East 6th Street, Cleveland, Ohio 44114

Social Media Guidelines: https://www.clevelandfed.org/social-media-guidelines The Bank’s main office took up residence in its current home in the heart of downtown Cleveland in 1923. The Federal Reserve Bank of Cleveland serves the Fourth Federal Reserve District, which comprises Ohio, western Pennsylvania, ea

stern Kentucky, and the northern panhandle of West Virginia. It is one of twelve regional Reserve Banks, that together with the Board of Governors in Washington, DC, make up the Federal Reserve System.

How have businesses in the Fourth District been impacted by International Emergency Economic Powers Act tariffs? And wha...
06/04/2026

How have businesses in the Fourth District been impacted by International Emergency Economic Powers Act tariffs? And what are the primary issues affecting these firms’ economic outlooks?

Our May 2026 Survey of Regional Conditions and Expectations (SORCE) reveals that:

➡️ 52% of surveyed firms reported paying IEEPA tariffs, either directly or indirectly, versus 64% that said they expected to be impacted by potential tariffs in a Feb 2025 survey.

➡️ Businesses most commonly cited geopolitical uncertainty as the primary issue impacting their economic outlooks.

For the details, see our latest District Data Brief by Brett H and Mitchell Isler: https://clefed.org/43FGfnx

06/04/2026

We asked around the Cleveland Fed: What are you listening to? 🎧

Turns out, everyone's tuned into our Soft Skills Storytelling! Each chapter is available in audio format—listen to the full story in just 31 minutes.

Explore the storytelling to start listening today: https://clefed.org/3RO9uBX

The Fourth District Beige Book is now live.Here’s what our contacts reported:📈 Business activity increased modestly in r...
06/03/2026

The Fourth District Beige Book is now live.

Here’s what our contacts reported:

📈 Business activity increased modestly in recent weeks, with continued modest growth expected in the months ahead.

⚙️ Manufacturers reported a demand increase, largely driven by data center development.

💵 Consumer spending on a decline, driven by higher fuel costs and inflation.

🏠 Nonprofit and county government contacts shared the impacts of rapidly rising costs on the people they serve and their organizations

See more findings about the Fourth District’s economy: https://clefed.org/3ih7pZx

Are you interested US history or how monetary policy was handled before the Federal Reserve existed as America’s central...
06/03/2026

Are you interested US history or how monetary policy was handled before the Federal Reserve existed as America’s central bank?

If so – you’re in luck! Join Cleveland Fed economist emeritus Owen Humpage as he explores the history of 19th-century banking crises, failed quasi-central banks, and the political battles that shaped our modern central bank.

Our next Fed Talk event is called “The Crises That Led to the Fed’s Creation: Monetary Policy in American History.” Register now to join us in person or online on 7/16 at 1 pm ET: https://clefed.org/4v7CqTR

If you’re joining us in person, be sure to let us know if you’d like a tour of our building. 🏦

“It’s reasonable to keep rates steady given the uncertainties around the economic outlook. But if recent trends continue...
06/02/2026

“It’s reasonable to keep rates steady given the uncertainties around the economic outlook. But if recent trends continue, it may soon be appropriate to act,” President Beth Hammack shared in a speech at The City Club of Cleveland.

In her remarks, President Hammack explained why the FOMC’s inflation objective is 2 percent, why it’s important to get back to that level in a timely manner, and the challenges to achieving that objective.

She also noted that since inflation has been elevated for six years, consumers, businesses, and financial markets may start to expect higher future inflation--which would be a “bad development.”

“Preventing an inflationary mindset is critical to delivering on our 2 percent objective. Increases in inflation expectations that threaten our goal warrant taking decisive action,” she said.

Read her full remarks, available now: https://clefed.org/3QicGFA

We're excited to welcome 22 interns from colleges and universities across the country! They'll serve in 16 different gr...
06/02/2026

We're excited to welcome 22 interns from colleges and universities across the country!

They'll serve in 16 different groups at the Cleveland Fed this summer.

We look forward to the fresh perspectives they'll bring and the impact they'll make.

Welcome to the team!

In March 2026, we surveyed more than 550 organizations that serve low- and moderate-income (LMI) individuals and communi...
06/01/2026

In March 2026, we surveyed more than 550 organizations that serve low- and moderate-income (LMI) individuals and communities.

Here's what they told us:

- Only 8% said job availability for LMI workers had increased in the past six months

- 72% said financial well-being for LMI people had decreased over the past six months

- Organizations’ top three concerns were housing costs, the continued impact of price increases on household budgets, and the shortage of affordable housing

The goal of our Community Issues Survey, which is conducted twice a year, is to monitor economic conditions and identify issues impacting LMI households and the organizations that serve them in the Fourth District.

The latest report is out; see the findings: https://clefed.org/3S48olE

31 minutes is all you need to listen to all three chapters of our latest storytelling, “Wanted: Soft Skills and the Trai...
05/30/2026

31 minutes is all you need to listen to all three chapters of our latest storytelling, “Wanted: Soft Skills and the Training That Builds Them.”

Listen now to discover how the Cleveland Fed and others are addressing a reported soft skills gap: https://clefed.org/3RO9uBX

05/29/2026

Why does central bank independence matter?

A panel of leading experts discussed research on central bank independence & accountability in our latest Conversations on Central Banking.

The video and transcript are now available: https://clefed.org/4mNOYNs

Paychecks are growing, but are lower-wage workers better off? You've probably seen headlines about lower-wage workers’ p...
05/27/2026

Paychecks are growing, but are lower-wage workers better off?

You've probably seen headlines about lower-wage workers’ pay going up since the pandemic. But when accounting for inflation, these wage gains are much smaller than the percentages make them sound.

Our latest Research [in] Brief breaks down the findings; see the full article: https://clefed.org/4ur2UQm

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