Cleveland Fed
@clevelandfed.bsky.social
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Official account of the Federal Reserve Bank of Cleveland, serving the Fourth District since 1913.
In our latest working paper, researchers studied theoretically and empirically how banks’ experience with borrowing firms’ capital reallocation affects their incentive to monitor borrowers ex ante.
https://clefed.org/4ailovg
1 day ago
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Happy New Year from all of us at the Cleveland Fed!
3 days ago
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What economic indicators will be crucial in 2026? Our next
#FedTalk
on Jan. 15 will feature our director of research discussing the US economic forecast for the new year. Register today and submit your questions to our speaker:
https://clefed.org/44z5Srh
4 days ago
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“One of my favorite parts of this job has been getting out in the community and really engaging with people in the region” our president and CEO Beth Hammack shared last year. See why these interactions are important as she’s formulating her monetary policy views:
bit.ly/3LbUuLn
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On-the-ground insights: How a Federal Reserve president stays current
Cleveland Fed President Beth Hammack explains how visiting communities around the Fourth District helps her bring the region's unique perspective into nation...
https://bit.ly/3LbUuLn
5 days ago
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As of December 29, 2025, the median federal funds rate across seven policy rules and three economic forecasts falls from 4.29 percent in 2025:Q4 to 3.68 percent in 2027:Q4.
https://clefed.org/45qM0GX
5 days ago
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Join us 1/15 from 3–4 pm ET for the first
#FedTalk
of 2026. Our director of research, Ed Knotek, will discuss the
#EconomicOutlook
. We will cover topics such as
#GDP
, the
#LaborMarket
, and
#inflation
to provide a snapshot of the economy. Register:
https://clefed.org/44z5Srh
6 days ago
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We are sharing some of our most “liked” social posts of 2025! One was about Policy Summit 2025. The biannual event focuses on issues affecting low- and moderate-income communities. You can watch the conversations from last year’s event here:
clefed.org/PS2025
6 days ago
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We are sharing some of our most “liked” social posts of 2025! This summer we got a peek into the day in the life of a Cleveland Fed summer intern. For more information on our interns, visit:
https://www.clevelandfed.org/careers/internships
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9 days ago
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In a recent working paper, researchers studied theoretically and empirically how banks’ experience with borrowing firms’ capital reallocation affects their incentive to monitor borrowers ex ante.
https://clefed.org/4ailovg
12 days ago
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We are sharing some of our most “liked” social posts of 2025! In the spring of this year, our president Beth Hammack spoke at the Hoover Institution at Stanford University: See the speech:
https://clefed.org/42PYQOh
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The Outlook for the Economy and Monetary Policy
Beth M. Hammack—President and Chief Executive Officer—Federal Reserve Bank of Cleveland—Hoover Monetary Policy Conference: Finishing the Job and New Challenges, Hoover Institution, Stanford University...
https://clefed.org/42PYQOh
13 days ago
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Our Education and Learning Center will be closed until Monday, January 5. Plan your visit in the new year:
https://www.clevelandfed.org/about-us/visit-us
13 days ago
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We are sharing some of our most “liked” social posts of 2025! Throwing it back to this Day in the Life of a Bank Examiner. For more information about our supervision work, visit:
https://www.clevelandfed.org/scs
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16 days ago
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The Cleveland Fed's latest estimate of 10-year expected
#inflation
is 2.34%.
clefed.org/IE
17 days ago
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Median
#CPI
rose 3.1% on a year-over-year basis. See our latest median
#CPI
and trimmed mean
#CPI
updates:
clefed.org/CPI
17 days ago
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Our latest report is part of a four-part series examining the international
#trade
relationships of the US states that are either partially or entirely contained within the Fourth District of the
#FederalReserve
System. See the latest data on
#Kentucky
:
https://clefed.org/3XW7LdL
17 days ago
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Our
#CPI
indicator updates tomorrow. Our
#inflation
nowcasting model (updated daily!) predicts year-over-year CPI
#inflation
of 2.99% in November. Check it out:
clefed.org/3yCkTHV
18 days ago
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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
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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...
https://clefed.org/48jWMj3
19 days ago
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New District Data Brief: Kentucky’s International Trade Relationships. See the report:
https://clefed.org/3XW7LdL
20 days ago
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We are sharing some of our most “liked” social posts of 2025! Back in April, we shared this quick, informational video on
#stagflation
. For more Center for Inflation Research work, visit:
https://clefed.org/inflation
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20 days ago
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We show using survey data that smaller firms pass on cost increases to customers more than large firms. We build a model to analyze how such firm heterogeneity affects inflation and find that it makes inflation more responsive to shocks. See the paper:
https://clefed.org/48iSsBS
23 days ago
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We are sharing some of our most “liked” social posts of 2025! Economic Scholars Program is an economic conference that allows college students to share their work, participate in a research conference, and more. For more information, visit:
https://clefed.org/esp
26 days ago
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The recordings and presentations from this year’s Financial Stability conference, Financial Stability in a Time of Rapid Economic and Technological Change, are now available. Visit the event page:
https://clefed.org/42kurqM
27 days ago
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reposted by
Cleveland Fed
Federal Reserve
about 1 month ago
On November 21, 2025, Vice Chair Jefferson delivered a speech on financial stability
@clevelandfed.bsky.social
:
www.federalreserve.gov/newsevents/s...
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Our Education and Learning Center is closed today. We will reopen tomorrow for our normal hours, 9:00 am-2:00 pm. Plan your visit:
clefed.org/visit
27 days ago
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Our latest District Data Brief is part of a four-report series examining the international
#trade
relationships of the US states that are either partially or entirely contained within the Fourth District of the
#FederalReserve
System. View:
https://clefed.org/3MePoy1
27 days ago
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Our latest District Data Brief is part of a four-report series examining the international
#trade
relationships of the US states that are either partially or entirely contained within the Fourth District of the
#FederalReserve
System. View:
https://clefed.org/3MePoy1
30 days ago
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ICYMI: The video, transcript, and audio from our most recent Fed Talk, titled “Dive into the Business Outlook and Trends Survey (BOTS),” is now available. Watch, read, or listen to the full discussion:
https://clefed.org/47JjNwH
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about 1 month ago
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The Cleveland Fed Digest makes sure you’ve got the latest research and analyses by the Federal Reserve Bank that serves you and the region. Subscribe today!
https://clefed.org/CFD
about 1 month ago
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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
about 1 month ago
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Our Education and Learning Center is closed this week. We will reopen on December 8, during our normal hours: Monday-Wednesday, 9 am-2 pm. Plan your visit:
clefed.org/visit
about 1 month ago
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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
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about 1 month ago
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New District Data Brief: SORCE Insights: Ohio’s International Trade Relationships. See the report:
https://clefed.org/3MePoy1
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Ohio’s International Trade Relationships
This District Data Brief is part of a four-report series examining the international trade relationships of the US states that are either partially or entirely contained within the Fourth District of ...
https://clefed.org/3MePoy1
about 1 month ago
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Our latest edition of the Survey of Regional Conditions and Expectations (SORCE), administered from 10/30-11/6/2025, included a set of special questions focused on employment among Fourth District firms. This report discusses results from these questions
https://clefed.org/3M0rOoG
about 1 month ago
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Fourth District reports suggested that business activity increased slightly in recent weeks, and contacts expected flat activity in the months ahead.
#BeigeBook
clefed.org/3ih7pZx
about 1 month ago
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What happens when both
#inflation
and
#unemployment
rates are rising? This coincidence is called
#stagflation
. Economists from our
#CenterForInflationResearch
explore stagflation in our latest infographic:
https://clefed.org/4pknizH
about 1 month ago
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New District Data Brief: SORCE Insights: Employment Conditions and Outlook for Fourth District Firms. See the report:
https://clefed.org/3M0rOoG
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SORCE Insights: Employment Conditions and Outlook for Fourth District Firms
The Cleveland Fed’s latest edition of the Survey of Regional Conditions and Expectations (SORCE), administered from October 30 to November 6, 2025, included a set of special questions focused on emplo...
https://clefed.org/3M0rOoG
about 1 month ago
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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
loading . . .
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...
https://clefed.org/48jWMj3
about 1 month ago
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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
about 1 month ago
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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
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about 1 month ago
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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
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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...
https://clefed.org/4rblIBY
about 1 month ago
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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
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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...
https://clefed.org/4rblIBY
about 1 month ago
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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
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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...
https://clefed.org/4rblIBY
about 1 month ago
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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
about 2 months ago
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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
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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 ...
https://clefed.org/4r73kdt
about 2 months ago
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Inflation answers—illustrated! What is
#stagflation
? Our latest infographic answers this question. View it and the full series:
https://clefed.org/4pknizH
about 2 months ago
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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
about 2 months ago
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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
about 2 months ago
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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
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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.
https://clefed.org/SORCE
about 2 months ago
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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
about 2 months ago
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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
about 2 months ago
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