The Cleveland Federal Reserve is introducing a new initiative called the Survey of Regional Conditions and Expectations (SORCE) indexes. These indexes aim to provide timely insights into economic activity within the Fourth Federal Reserve District, which includes Ohio and parts of Pennsylvania, West Virginia, and Kentucky.

"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," states the Cleveland Fed. The organization emphasizes its role in producing indicators and datasets that inform various stakeholders about economic conditions such as inflation, employment, and financial system risks.

By gathering information from regional business and community leaders every six weeks, the Cleveland Fed monitors emerging trends. "Through these surveys, the businesses share the economic conditions that they face," providing insights ahead of other macroeconomic indicators.

The SORCE indexes are intended to supplement existing resources like the Beige Book by offering quantitative survey results to the public. This initiative is part of broader efforts by the Cleveland Fed to support American consumers' financial security and maintain financial stability for the US Treasury.

In an upcoming Fed Talk scheduled for March 26, 2025, speakers will discuss these developments further during an online webinar. Attendees can expect updates on this event along with other public events hosted by the Cleveland Fed.