President Hammack delivered opening remarks at the Cleveland Fed’s Policy Summit on June 26, 2025. The Federal Reserve Bank of Cleveland is one of the 12 regional Reserve Banks that, along with the Board of Governors in Washington DC, make up the Federal Reserve System. This system is part of the US central bank and plays a role in formulating national monetary policy.

The Cleveland Fed supervises banking organizations and provides payment services to financial institutions and the US Treasury. It also engages in various activities supporting Federal Reserve operations nationwide. Additionally, it supports community well-being across the Fourth Federal Reserve District through research, outreach, and educational initiatives.

This district includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. The Cleveland Fed has branches in Cincinnati and Pittsburgh.

The organization aims to inform policymakers and researchers about economic conditions such as inflation and employment. It produces indicators and datasets for this purpose. By examining significant economic issues locally, nationally, and globally, it seeks to educate both policymakers and the public.

The institution also supervises financial institutions to support American consumers' financial security while maintaining financial stability for US Treasury systems. As part of its educational mission, it offers resources on economic basics and inflation alongside educational games.

For further information or inquiries regarding this release, Dani Carlson can be contacted at Dani.Carlson@clev.frb.org or by phone at 216.672.1264.