The Federal Reserve Bank of Cleveland has announced the appointment of 33 new members to its advisory councils. These councils play a role in gathering information from business, civic, and community leaders across the Fourth Federal Reserve District, which covers Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.
Through its advisory councils, the Cleveland Fed collects near-real time observations on regional economic and business conditions. This information is used to complement the bank’s research and helps provide a more comprehensive view of economic developments in the region.
Business Advisory Council members represent a cross-section of regional businesses as well as organizations involved in community development, consumer affairs, and labor. The new appointments span several areas within the district including Central Ohio, Dayton Area, Eastern Kentucky, Northeast Ohio, Northwest Pennsylvania, Shenango-Mahoning Valley, Southwest Ohio and Northern Kentucky, and Southwest Pennsylvania and Northern West Virginia.
The Community Depository Institutions Advisory Council consists of leaders from commercial banks, thrifts and savings banks, and credit unions with assets under $10 billion.
According to an official statement: “Through its advisory councils, the Cleveland Fed engages with a diverse range of business, civic, and community leaders to collect information on regional economic and business conditions. Advisory councils’ near-real time observations complement Cleveland Fed research, enabling the Bank to get a better picture of economic conditions in the Fourth District.”
The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that make up the Federal Reserve System along with the Board of Governors in Washington DC. The bank participates in national monetary policy formulation through its president’s role on the Federal Open Market Committee (https://www.clevelandfed.org/). It also supervises banking organizations to ensure their safety and regulatory compliance (https://www.clevelandfed.org/), provides payment services to financial institutions and the U.S. Treasury (https://www.clevelandfed.org/), conducts economic research for community development (https://www.clevelandfed.org/), supports resilience for low- and moderate-income communities (https://www.clevelandfed.org/), promotes stability in financial systems (https://www.clevelandfed.org/), oversees banking activities within its district (https://www.clevelandfed.org/), maintains headquarters in Cleveland with branches in Cincinnati and Pittsburgh (https://www.clevelandfed.org/), covers activities throughout its designated district (https://www.clevelandfed.org/) ,and operates as part of broader efforts to support optimal economic performance nationally (https://www.clevelandfed.org/).
For more details about engaging with business, civic or community leaders through these advisory roles or for further background on council membership structure visit Engaging Our District’s Business, Civic, and Community Leaders at clevelandfed.org.
Contact: Chuck Soder at chuck.soder@clev.frb.org or 216.672.2798
