Cleveland Federal Reserve Bank Appoints Mark Schweitzer SVP, Director of Research

Mark Schweitzer has been named senior vice president and director of Research at the Federal Reserve Bank of Cleveland, effective May 16, 2008.

Schweitzer will lead the Bank's Research Department, which is responsible for conducting economic research and advising the Bank president on monetary policy. The Cleveland Reserve Bank is known for its research on macroeconomics, labor market developments, regional growth, and financial stability. Schweitzer will be in charge of setting the research direction, selecting and developing staff, establishing departmental priorities, and briefing the Bank president prior to meetings of the Federal Open Market Committee of the Federal Reserve System. He will report to Mark Sniderman, executive vice president and chief policy officer.

Schweitzer joined the Bank in 1992 as an economist. From 2000 to 2002, he served as a senior economist at the Bank of England. He returned to the Federal Reserve Bank of Cleveland, and in 2004 was promoted to assistant vice president and director of the Regional Economic Issues Program. In 2007, Schweitzer was appointed vice president and branch executive of the Federal Reserve Bank of Kansas City's Denver Branch.

An economics graduate of the University of Chicago, Schweitzer holds both a master's degree and a Ph.D. in economics from the University of California at Los Angeles.

The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., comprise the Federal Reserve System. As the nation's central bank, the Federal Reserve System formulates U.S. monetary policy, supervises certain banks and all bank holding companies, and provides payment services to depository institutions and the U.S. government. Payment services include check clearing, electronic payments, and the distribution and processing of currency and coin.

The Federal Reserve Bank of Cleveland, including its branch offices in Cincinnati and Pittsburgh, serves the Fourth Federal Reserve District, which includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.