In a recent interview with The Wall Street Journal, President Loretta Mester of the Federal Reserve Bank of Cleveland expressed that the Federal Reserve is in a "really good place" to study the economy before determining the path for interest rates. She further stated that she isn't eager to consider interest-rate hikes at this time.

The Federal Reserve Bank of Cleveland serves as part of the US central bank, supporting both the national economy and its regional area. It conducts studies on economic conditions and issues that impact communities, provides services to financial institutions, and offers economic education and resources for all.

This institution represents and gathers information from the Fourth Federal Reserve District, which spans Ohio and parts of Pennsylvania, West Virginia, and Kentucky. The data it collects is invaluable not only for its region but also for communities across the United States.

Through their research efforts, they produce indicators and datasets that inform public understanding, guide policymakers' decisions, and aid researchers in their analysis of economic conditions. These include aspects such as inflation, employment levels, and potential risks to the financial system.

Their work also aims to support American consumers' financial security by supervising financial institutions while maintaining financial stability and payment systems for the US Treasury.