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".
The Federal Reserve Bank of Cleveland is part of the United States central bank, serving as one of 12 regional Reserve Banks that, together with the Board of Governors in Washington DC, comprise the Federal Reserve System. The Cleveland Fed plays a crucial role in formulating our nation’s monetary policy, supervising banking organizations, providing payment and other services to financial institutions and to the US Treasury. It also performs numerous activities that support Federal Reserve operations System-wide.
In addition to these roles, the Bank supports the well-being of communities across the Fourth Federal Reserve District through a wide array of research, outreach, and educational activities. This district spans Ohio and parts of Pennsylvania, West Virginia, and Kentucky.
The Cleveland Fed's work involves producing indicators and datasets to inform the public, policymakers, and researchers about economic conditions. These include inflation rates, employment statistics, and risks to the financial system. Its research examines economic issues that are important not only to local communities but also across the nation and around the world.
Moreover, it supervises financial institutions while supporting American consumers’ financial security. It also maintains financial stability and payment systems for the US Treasury.
As part of its mission to serve American people as part of the US central bank, it studies economic conditions and issues impacting communities. Furthermore, it provides economic education resources for all.
For more information or inquiries regarding this topic or others related to Cleveland Fed's activities or policies please contact Doug Campbell at doug.campbell@clev.frb.org or call 513.455.4479.
