The childcare sector has long faced workforce challenges that affect working parents and the broader economy. With high turnover and constraints on supply fueled by how the industry is financed, providers often struggle to offer care that parents can access.
A recent report from the Federal Reserve Bank of Cleveland indicates that Black and Hispanic households often reside in neighborhoods with lower socio-economic status compared to white households with similar incomes. The study, titled "Neighborhood Sorting, Metros, and Tomorrow’s Labor Force," was conducted by researchers Daniel Carroll and Christopher J. Walker.
The Federal Reserve Bank has highlighted the growing concern surrounding long-term care costs in the United States, particularly as the population ages. With many individuals discovering too late that Medicare and Medicaid do not cover all expenses, financial protection against these risks is becoming a priority.
Reuters recently interviewed Federal Reserve Bank of Cleveland President Loretta J. Mester, who is approaching her retirement at the end of the month. Mester emphasized the importance of remaining open to active sales of mortgage bonds as part of the central bank's ongoing efforts to reduce its balance sheet.
When the post-pandemic economy entered uncharted territory, economic models based on historical data struggled to make accurate forecasts, highlighting the need for flexibility during abnormal times. This observation comes from a new report by the Federal Reserve Bank of Cleveland.
In a recent interview with Bloomberg, President Loretta J. Mester reflected on her tenure and the evolution of the Federal Reserve's communication strategies. Having attended over 200 policy meetings, first as a staffer and later as a policymaker since 2014, Mester emphasized the importance of clear communication in informing the public, policymakers, and researchers about economic conditions.
The average student debt held by US families in the top income and net worth quintiles increased between 2019 and 2022, according to a new report from the Federal Reserve Bank of Cleveland. Families with student debt in the top income quintile owed more than $75,000 on average as of 2022, up more than $20,000 since 2019, in 2022 dollars. During that same time frame, average student debt fell for each of the other four income quintiles, according to the report, which is based on the latest data from the Federal Reserve Board’s Survey of Consumer Finances.
CNN recently conducted an interview with Loretta J. Mester, the outgoing president of the Federal Reserve Bank of Cleveland. In her discussion with Richard Quest, Mester shared insights on various economic conditions, including inflation and employment.
We produce indicators and datasets to inform the public, policymakers, and researchers about economic conditions, including inflation, employment, and risks to the financial system. Our research informs the public and policymakers by examining economic issues of importance to those in our local communities, across the nation, and around the world. We represent and gather information from the Fourth Federal Reserve District, spanning Ohio and parts of Pennsylvania, West Virginia, and Kentucky. These resources are useful for our region, the communities we serve, and communities...
CNBC’s Steve Liesman and Cleveland Fed President Loretta Mester joined 'Squawk Box' to discuss the state of the economy, recent inflation reports, the Federal Reserve's inflation strategy, and future monetary policy directions.
Bloomberg recently interviewed Federal Reserve Bank of Cleveland President Loretta J. Mester, discussing various aspects of economic conditions and the role of the Federal Reserve.
The 12 Federal Reserve Banks have released a series of chartbooks to analyze data from the 2023 Small Business Credit Survey (SBCS). These chartbooks, titled "2024 Firms in Focus," include 43 sets of charts that provide insights into the performance and challenges faced by different types of small businesses in 2023. The resources are designed to help compare small business credit conditions across various dimensions such as geography, owner demographics, industry, and size.
A model developed by researchers at the Federal Reserve Bank of Cleveland suggests that inflation may take several years to return to the Federal Open Market Committee’s 2 percent target. This projection comes as extrinsic forces, such as supply chain constraints, have normalized.
The Federal Reserve Bank of Cleveland has announced the appointment of Beth M. Hammack as its next president and chief executive officer, effective August 21, 2024. Hammack will succeed Loretta J. Mester, whose tenure concludes on June 30, 2024, in accordance with Federal Reserve policies.
President Mester delivered remarks for a panel discussion at the Bank of Japan in Tokyo on May 28, 2024. The speech, titled “Forward Guidance and Monetary Policy Communications: Use Your Words and Connect the Dots,” focused on the importance of clear communication in monetary policy.
On May 28, 2024, a comprehensive discussion on forward guidance and monetary policy communications was presented, emphasizing the importance of clear communication from the Federal Open Market Committee (FOMC). The effectiveness of forward guidance as a policy tool in extraordinary times can be significantly enhanced by improving monetary policy communications during normal times.
Reuters recently conducted an interview with President Loretta J. Mester of the Cleveland Federal Reserve. In her nearly 40 years with the Federal Reserve, Mester has witnessed significant changes in how the U.S. central bank communicates about economic conditions and monetary policy.
Federal Reserve Bank of Cleveland President Loretta Mester discussed current economic conditions and monetary policy during an interview with Bloomberg Television on May 20, 2024. Mester emphasized the role of the Federal Reserve in producing indicators and datasets to inform the public, policymakers, and researchers about various economic factors such as inflation, employment, and financial system risks.
The Wayne Economic Development Council recently hosted a discussion on the economy and monetary policy as part of its Briefings for Business series. The event was attended by key members of the Federal Reserve Bank of Cleveland, including Eddie Steiner, who chairs the Board's Audit Committee, and Steve Matthew, an active member of the Northeast Ohio Business Advisory Council.
The President of the Federal Reserve Bank of Cleveland delivered a speech to the Wayne Economic Development Council on May 16, 2024. The address was titled "Returning to Price Stability: An Update on the Economy and Monetary Policy".
