The Federal Reserve Bank of Cleveland has announced the appointment of Courtney Falato as senior vice president of external engagement. Falato will join the bank in June, bringing with her extensive experience in education, workforce development, and economic policy. Her focus has been on building partnerships to drive inclusive growth.

Most recently, Falato served as vice president and program officer of global philanthropy at JPMorgan Chase. In this role, she led community engagement strategies and cross-sector partnerships across Ohio and Kentucky, managing a $35 million philanthropic portfolio centered on housing, entrepreneurship, workforce development, and financial health.

Before her tenure at JPMorgan Chase, Falato was director of Smart Cities at the Ohio State University. She oversaw the university’s involvement in the $50 million US Department of Transportation-funded Smart Columbus initiative. Her previous roles also include leadership positions in Dublin and Reynoldsburg City Schools and research positions at the American Institutes for Research and the University of Chicago.

Beth Hammack, Cleveland Fed president and chief executive officer, stated: “Courtney has experienced firsthand how institutions can become stronger partners in economic development when they listen to and work alongside the communities they serve.” Hammack added that Falato's expertise makes her a valuable addition to both the bank and its executive leadership team.

Falato will lead a multidisciplinary team responsible for external communications, education outreach, and community development within the Fourth Federal Reserve District. Community development is considered one of the core functions of the Federal Reserve as part of its efforts to understand economic experiences within lower-income households and communities.

A long-time resident of the Fourth District, Falato is an alumna of Ohio State University with a BA in political science. She also holds an MEd in social foundations in education from the University of Virginia. Her new role at Cleveland Fed begins on June 23.

The Federal Reserve Bank of Cleveland is one of 12 regional reserve banks that comprise part of the US central bank system along with the Board of Governors based in Washington DC. The Cleveland Fed plays a key role in formulating national monetary policy while supervising banking organizations and providing services to financial institutions across its jurisdiction which includes Ohio, western Pennsylvania, eastern Kentucky, and northern West Virginia.

For further inquiries about this announcement or other matters related to Cleveland Fed activities please contact Chuck Soder via email at chuck.soder@clev.frb.org or by phone at 216-672-2798.