Cleveland Fed
@clevelandfed.bsky.social
Official account of the Federal Reserve Bank of Cleveland, serving the Fourth District since 1913.
College graduates traditionally enjoy lower unemployment and faster job placement than those with high school diplomas, but these advantages may be waning. Recent research indicates diminishing prospects for young college degree holders. See our report: https://clefed.org/48jWMj3
Are Young College Graduates Losing Their Edge in the Job Market?
High school graduates in their twenties have consistently experienced a higher unemployment rate than college graduates in the same age range. However, the unemployment gap between the two education g...
clefed.org
November 24, 2025 at 3:01 PM
College graduates traditionally enjoy lower unemployment and faster job placement than those with high school diplomas, but these advantages may be waning. Recent research indicates diminishing prospects for young college degree holders. See our report: https://clefed.org/48jWMj3
Our Education and Learning Center is closed this week and next week.
We will reopen on December 8, during our normal hours: Monday-Wednesday, 9 am-2 pm. Plan your visit: clefed.org/visit
We will reopen on December 8, during our normal hours: Monday-Wednesday, 9 am-2 pm. Plan your visit: clefed.org/visit
November 24, 2025 at 1:03 PM
Our Education and Learning Center is closed this week and next week.
We will reopen on December 8, during our normal hours: Monday-Wednesday, 9 am-2 pm. Plan your visit: clefed.org/visit
We will reopen on December 8, during our normal hours: Monday-Wednesday, 9 am-2 pm. Plan your visit: clefed.org/visit
According to the September 2025 #CommunityIssuesSurvey, #job availability for low- and moderate-income workers has decreased in the past six months. See the chart: https://clefed.org/43bM9gm
November 20, 2025 at 8:24 PM
According to the September 2025 #CommunityIssuesSurvey, #job availability for low- and moderate-income workers has decreased in the past six months. See the chart: https://clefed.org/43bM9gm
President Hammack: as the economy and financial system evolve, so do the potential shocks we may face. Read her remarks at the Cleveland Fed conference, “Financial Stability in a Time of Rapid Economic and Technological Change.” https://clefed.org/4rblIBY
Opening Remarks
Beth M. Hammack—President and Chief Executive Officer—Federal Reserve Bank of Cleveland—2025 Financial Stability Conference: Financial Stability in a Time of Rapid Economic and Technological Change—Cl...
clefed.org
November 20, 2025 at 2:57 PM
President Hammack: as the economy and financial system evolve, so do the potential shocks we may face. Read her remarks at the Cleveland Fed conference, “Financial Stability in a Time of Rapid Economic and Technological Change.” https://clefed.org/4rblIBY
The financial system appears sound but you can never let your guard down when it comes to promoting financial stability, says President Hammack at the Cleveland Fed’s Financial Stability Conference https://clefed.org/4rblIBY
Opening Remarks
Beth M. Hammack—President and Chief Executive Officer—Federal Reserve Bank of Cleveland—2025 Financial Stability Conference: Financial Stability in a Time of Rapid Economic and Technological Change—Cl...
clefed.org
November 20, 2025 at 2:51 PM
The financial system appears sound but you can never let your guard down when it comes to promoting financial stability, says President Hammack at the Cleveland Fed’s Financial Stability Conference https://clefed.org/4rblIBY
In remarks at our Financial Stability Conference, President Hammack shared 3 potential risks on her personal financial stability watchlist: growth in 1. private credit and 2. stable coins, and 3. the challenge of high inflation and a softening labor market https://clefed.org/4rblIBY
Opening Remarks
Beth M. Hammack—President and Chief Executive Officer—Federal Reserve Bank of Cleveland—2025 Financial Stability Conference: Financial Stability in a Time of Rapid Economic and Technological Change—Cl...
clefed.org
November 20, 2025 at 2:41 PM
In remarks at our Financial Stability Conference, President Hammack shared 3 potential risks on her personal financial stability watchlist: growth in 1. private credit and 2. stable coins, and 3. the challenge of high inflation and a softening labor market https://clefed.org/4rblIBY
In our latest working paper, researchers created a new economic model that better reflects the reality of wage-setting power between employers and workers. See their findings: https://clefed.org/3X5bm92
November 19, 2025 at 6:47 PM
In our latest working paper, researchers created a new economic model that better reflects the reality of wage-setting power between employers and workers. See their findings: https://clefed.org/3X5bm92
Happy Women’s Entrepreneurship Day! According to the most recent Fed data on small businesses, women-owned firms outpaced men-owned ones in revenue growth, but lagged behind them in profitability. See more on women-owned firms here: https://clefed.org/4r73kdt
2025 Firms in Focus chartbooks on small business data
The 2025 Firms in Focus chartbooks break down small business data from the Federal Reserve’s 2024 Small Business Credit Survey by business characteristics, owner demographics, and geographic location ...
clefed.org
November 19, 2025 at 4:51 PM
Happy Women’s Entrepreneurship Day! According to the most recent Fed data on small businesses, women-owned firms outpaced men-owned ones in revenue growth, but lagged behind them in profitability. See more on women-owned firms here: https://clefed.org/4r73kdt
Inflation answers—illustrated! What is #stagflation? Our latest infographic answers this question. View it and the full series: https://clefed.org/4pknizH
November 19, 2025 at 2:54 PM
Inflation answers—illustrated! What is #stagflation? Our latest infographic answers this question. View it and the full series: https://clefed.org/4pknizH
Lisa Gerdeman-Kern, senior manager of product strategy and insights in our Treasury Services Department, shows a glimpse into a day in her life. Learn more about her work, her inspiration, her life outside of work, & more: https://clefed.org/4nXZRLp
November 18, 2025 at 4:06 PM
Lisa Gerdeman-Kern, senior manager of product strategy and insights in our Treasury Services Department, shows a glimpse into a day in her life. Learn more about her work, her inspiration, her life outside of work, & more: https://clefed.org/4nXZRLp
In our latest report, we attribute the post-pandemic volatility of recession probability forecasts (see Figure 2 below) to the negative correlation between Beige Book sentiment and economic uncertainty. Read more: https://clefed.org/47O7M7U
November 17, 2025 at 12:50 PM
In our latest report, we attribute the post-pandemic volatility of recession probability forecasts (see Figure 2 below) to the negative correlation between Beige Book sentiment and economic uncertainty. Read more: https://clefed.org/47O7M7U
The Survey of Regional Conditions and Expectations total business conditions diffusion index increased by 6 points to 8, while the total expected business conditions diffusion index fell by 22 points to 4. Results were calculated from the 10.30–11.6 survey clefed.org/SORCE
Survey of Regional Conditions and Expectations (SORCE)
SORCE indexes are based on our survey of business and community leaders and provide a timely summary of economic activity in our region, which includes all of Ohio and parts of Pennsylvania, Kentucky, and West Virginia. Released twice each quarter.
clefed.org
November 13, 2025 at 8:02 PM
The Survey of Regional Conditions and Expectations total business conditions diffusion index increased by 6 points to 8, while the total expected business conditions diffusion index fell by 22 points to 4. Results were calculated from the 10.30–11.6 survey clefed.org/SORCE
Our Education and Learning Center is closed today.
We will be open again tomorrow during our normal hours, 9 am –2 pm. Plan your visit: clefed.org/visit
We will be open again tomorrow during our normal hours, 9 am –2 pm. Plan your visit: clefed.org/visit
November 11, 2025 at 1:13 PM
Our Education and Learning Center is closed today.
We will be open again tomorrow during our normal hours, 9 am –2 pm. Plan your visit: clefed.org/visit
We will be open again tomorrow during our normal hours, 9 am –2 pm. Plan your visit: clefed.org/visit
What do CEOs think inflation will be? The Survey of Firms’ #Inflation Expectations (SoFIE) shows they expect CPI inflation will be 3.3% over the next year. See the update: clefed.org/SoFIE
November 10, 2025 at 5:47 PM
What do CEOs think inflation will be? The Survey of Firms’ #Inflation Expectations (SoFIE) shows they expect CPI inflation will be 3.3% over the next year. See the update: clefed.org/SoFIE
New Economic Commentary: Forecasting US Recessions in Real-Time Using Regional Economic Sentiment https://clefed.org/47O7M7U
Forecasting US Recessions in Real-Time Using Regional Economic Sentiment
Measures of regional economic sentiment, extracted from the Beige Book using natural language processing methods, consistently delivered reliable real-time forecasts of US recessions from the mid-1980...
clefed.org
November 10, 2025 at 2:29 PM
New Economic Commentary: Forecasting US Recessions in Real-Time Using Regional Economic Sentiment https://clefed.org/47O7M7U
President Hammack spoke recently at the @EconClubNY about balancing both sides of the dual mandate right now, saying monetary policy is “barely restrictive, if at all, and it’s not obvious to me that monetary policy should do more at this time.” https://clefed.org/3LoRICg
Balancing Act: The Dual Mandate on an Economic Tightrope
Beth M. Hammack—President and Chief Executive Officer—Federal Reserve Bank of Cleveland—The Economic Club of New York—New York, New York
clefed.org
November 6, 2025 at 9:30 PM
President Hammack spoke recently at the @EconClubNY about balancing both sides of the dual mandate right now, saying monetary policy is “barely restrictive, if at all, and it’s not obvious to me that monetary policy should do more at this time.” https://clefed.org/3LoRICg
President Hammack argues for a “mildly restrictive stance for our policy rate to ensure that inflation returns to 2 percent in a timely fashion.” https://clefed.org/3LoRICg
Balancing Act: The Dual Mandate on an Economic Tightrope
Beth M. Hammack—President and Chief Executive Officer—Federal Reserve Bank of Cleveland—The Economic Club of New York—New York, New York
clefed.org
November 6, 2025 at 5:50 PM
President Hammack argues for a “mildly restrictive stance for our policy rate to ensure that inflation returns to 2 percent in a timely fashion.” https://clefed.org/3LoRICg
“I don’t see elevated inflation as a purely transitory phenomenon that I should look through,” Pres. Hammack says in @EconClubNY speech. Inflation is coming from several directions, has been elevated for 4.5 years, & cited large, dynamic & ongoing tariffs. https://clefed.org/3LoRICg
Balancing Act: The Dual Mandate on an Economic Tightrope
Beth M. Hammack—President and Chief Executive Officer—Federal Reserve Bank of Cleveland—The Economic Club of New York—New York, New York
clefed.org
November 6, 2025 at 5:42 PM
“I don’t see elevated inflation as a purely transitory phenomenon that I should look through,” Pres. Hammack says in @EconClubNY speech. Inflation is coming from several directions, has been elevated for 4.5 years, & cited large, dynamic & ongoing tariffs. https://clefed.org/3LoRICg
Pres. Hammack shares that 4th District business leaders are deciding which costs to pass on to customers. No one wants to be the first to raise prices, leaders told her, but given cost pressures several said they will likely have to early next year. https://clefed.org/3LoRICg
Balancing Act: The Dual Mandate on an Economic Tightrope
Beth M. Hammack—President and Chief Executive Officer—Federal Reserve Bank of Cleveland—The Economic Club of New York—New York, New York
clefed.org
November 6, 2025 at 5:30 PM
Pres. Hammack shares that 4th District business leaders are deciding which costs to pass on to customers. No one wants to be the first to raise prices, leaders told her, but given cost pressures several said they will likely have to early next year. https://clefed.org/3LoRICg
President Hammack says she sees inflation as the more pressing concern right now, saying that monetary policy is “barely restrictive, if at all, and it’s not obvious to me that monetary policy should do more at this time.” https://clefed.org/3LoRICg
Balancing Act: The Dual Mandate on an Economic Tightrope
Beth M. Hammack—President and Chief Executive Officer—Federal Reserve Bank of Cleveland—The Economic Club of New York—New York, New York
clefed.org
November 6, 2025 at 5:14 PM
President Hammack says she sees inflation as the more pressing concern right now, saying that monetary policy is “barely restrictive, if at all, and it’s not obvious to me that monetary policy should do more at this time.” https://clefed.org/3LoRICg
During a speech at the @EconClubNY, Pres. Beth Hammack explained with inflation being too high and the labor market showing signs of softening, balancing both sides of the Fed’s dual mandate right now is like walking a tightrope. https://clefed.org/3LoRICg
Balancing Act: The Dual Mandate on an Economic Tightrope
Beth M. Hammack—President and Chief Executive Officer—Federal Reserve Bank of Cleveland—The Economic Club of New York—New York, New York
clefed.org
November 6, 2025 at 5:08 PM
During a speech at the @EconClubNY, Pres. Beth Hammack explained with inflation being too high and the labor market showing signs of softening, balancing both sides of the Fed’s dual mandate right now is like walking a tightrope. https://clefed.org/3LoRICg
The deadline is rapidly approaching for responses to the #SmallBusinessCreditSurvey! For-profit #SmallBusiness owners, the Federal Reserve wants to hear from you. Share your experiences today: https://bit.ly/4mNMeih
November 6, 2025 at 3:51 PM
The deadline is rapidly approaching for responses to the #SmallBusinessCreditSurvey! For-profit #SmallBusiness owners, the Federal Reserve wants to hear from you. Share your experiences today: https://bit.ly/4mNMeih
TODAY: Our next Fed Talk starts at 3 pm ET. Learn all about the Cleveland Fed’s new Business Outlook and Trends Survey. Register now and pose your questions to our panel of researchers: https://clefed.org/47JjNwH
November 5, 2025 at 2:49 PM
TODAY: Our next Fed Talk starts at 3 pm ET. Learn all about the Cleveland Fed’s new Business Outlook and Trends Survey. Register now and pose your questions to our panel of researchers: https://clefed.org/47JjNwH
Join us on 11/5 at 11 am ET for our next Conversation on Central Banking event: “Alternative Measures of Inflation”. Panelists will discuss alternative ways of measuring inflation to complement the official published statistics. Register to attend: https://clefed.org/437qvKq
November 4, 2025 at 3:21 PM
Join us on 11/5 at 11 am ET for our next Conversation on Central Banking event: “Alternative Measures of Inflation”. Panelists will discuss alternative ways of measuring inflation to complement the official published statistics. Register to attend: https://clefed.org/437qvKq
Topics of research in our latest Inflation Research Digest: #inflation turning points, impact of postpandemic US immigration surge on inflation, lessons on inflation since the #pandemic, and more. See the latest issue and subscribe: https://clefed.org/4msolMD
November 3, 2025 at 8:15 PM
Topics of research in our latest Inflation Research Digest: #inflation turning points, impact of postpandemic US immigration surge on inflation, lessons on inflation since the #pandemic, and more. See the latest issue and subscribe: https://clefed.org/4msolMD