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Mark Sniderman |

Executive Vice President and Chief Policy Officer

Mark Sniderman, Executive Vice President and Chief Policy Officer

Mark Sniderman is executive vice president and chief policy officer at the Federal Reserve Bank of Cleveland. He is responsible for guiding the Bank’s economic research and community development efforts. He frequently attends meetings of the Federal Open Market Committee, the part of the Federal Reserve where monetary policy decisions are made.

Dr. Sniderman joined the Bank's Research Department as an economist in 1976. He was appointed assistant vice president in 1983, vice president and associate director of research in 1986, and senior vice president and director of research in 1995. He assumed his current position in 2007.

Dr. Sniderman served as senior economist for economic policy analysis for the U.S. Senate Budget Committee in Washington, DC, while on leave from the Bank. He is a past president of the Cleveland Association for Business Economics.

A native of Youngstown, Ohio, Dr. Sniderman earned a bachelor's degree from Case Western Reserve University and master's and doctoral degrees in economics from the University of Wisconsin at Madison.

 

  • Fed Publications
  • Other Publications
Title Date Publication Author(s) Type

 

 2013-02 ; Economic Commentary
Abstract: Drawing from his long experience participating in the policymaking process at the Federal Reserve, chief policy officer Mark Sniderman shares his views on how the Federal Reserve's framework for conducting monetary policy has evolved over the past decade. He explains how changes in economic theory have helped shaped this new framework and how lessons learned from the Great Depression and Japan's recent struggle with deflation have contributed. This Commentary is based on a speech delivered at the Global Interdependence Conference, Tokyo, Japan, on December 4, 2012.
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 January, 2013 Vol. 3, No. 3 ; Forefront
Abstract: The Brookings Institution economist discusses her views on whether Americans are saving enough and lessons from the financial crisis
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 April, 2012 Vol. 3, No. 1 ; Forefront
Abstract: Federal Reserve Bank of Cleveland President and CEO opens up on her policy views, economic outlook, and the differences between Greenspan's Fed and Bernanke's.
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 January, 2012 Vol. 3, No. 1 ; Forefront
Abstract: A trio of academics discuss some of the common misunderstandings about and underlying benefits of strong bank capital buffers.
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 November, 2011 Vol. 2, No. 3 ; Forefront
Abstract: The evolution of the Great Depression should serve as a grim reminder that much remains unknown about the ultimate footprint that the Great Recession will have on the nation.
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 November, 2011 Vol. 2, No. 3 ; Forefront
Abstract: University of Arizona economic historian Price Fishback compares the Great Depression with the Great Recession and finds reason for optimism that America will recover from the latest downturn.
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 October, 2010 Vol. 1, No. 3 ; Forefront
Abstract: Former Federal Reserve governor on the state of macroeconomics.
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 October, 2010 Vol. 1, No. 3 ; Forefront
Abstract: Interview with Art Rolnick on early childhood education.
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 May, 2010 Vol. 1, No. 2 ; Forefront
Abstract: Some say that the financial crisis has launched a thousand Ph.D. dissertations and perhaps just as many books. Anil Kashyap was on the case from the very beginning.
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 May, 2010 Vol. 1, No. 2 ; Forefront
Abstract: Beginning in 2008, the Federal Reserve purchased $1.25 trillion worth of mortgage-backed securities, dramatically increasing the asset side of the central bank's balance sheet.
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 May, 2010 Vol. 1, No. 2 ; Forefront
Abstract: Mark Sniderman, executive vice president and chief policy officer for the Cleveland Fed, discusses some of the ways the central bank can reduce the size of its balance sheet without in incurring inflation.
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 June 1997 Federal Reserve Bank of Cleveland, Economic Commentary ; Economic Commentary
Abstract: An explanation of why, in the face of a booming economy, low unemployment, and scant inflation pressures, the Federal Reserve must continue its campaign to achieve price stability.
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 February 1, 1997 Federal Reserve Bank of Cleveland, Economic Commentary ; Robert B Avery; Patricia E Beeson; Economic Commentary
Abstract: A look at how the quantity and source of information flowing to lenders can affect their credit decisions, and an argument that lenders should take advantage of the CRA provisions that allow them to address their obligations through joint-lending programs and qualified investments.
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 August 1, 1996 Federal Reserve Bank of Cleveland, Economic Commentary ; Economic Commentary
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 January, 1996 Federal Reserve Bank of Cleveland, Working Paper no. 9620 ; Robert B Avery; Patricia E Beeson; Working Papers
Abstract: In this paper, we empirically examine how information about a neighborhood affects the level of lending activity in it. Specifically, do lenders deny mortgage applications at higher rates in neighborhoods where they have little experience in evaluating applications, and/or in neighborhoods where the lending community in general has little experience? The analysis uses data collected under the Home Mortgage Disclosure Act (HMDA) for 1990 and 1991 to construct denial rates for each lender in each census tract, controlling for applicant characteristics observed in the HMDA data. We then estimate the relationship between these lender-tract denial rates and both the number of applications processed by the lender in that neighborhood and the number of applications processed by all lenders in that neighborhood, controlling for other characteristics of the census tract and for the lender.
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 December, 1994 Federal Reserve Bank of Cleveland, Working Paper no. 9421 ; Robert B Avery; Patricia E Beeson; Working Papers
Abstract: A baseline evaluation of the variation in mortgage credit flows across different types of neighborhoods using HMDA data collected in 1990 and 1991.
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 October 1994 Federal Reserve Bank of Cleveland, Economic Review, vol. 30, no.4 ; Robert B Avery; Patricia E Beeson; Economic Review
Abstract: This study evaluates the feasibility of using information collected under the Home Mortgage Disclosure Act (HMDA) to form quantitative measures of lender activity for use in enforcement. By evaluating three firm-level measures- loan application, approval, and origination rates-the authors find that cross-lender variation in minority and low-income originations primarily reflects differences in home mortgage application rates, not in approval rates. The authors also compare gross measures of lender performance with indices controlling for property location and loan applicant characteristics and determine that they perform similarly. This suggests that most of the variation in lender behavior is idiosyncratic and cannot be attributed to variance in applicant characteristics reported in the HMDA data or to differences in the geographic markets served by the lenders.
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 March 1, 1994 Federal Reserve Bank of Cleveland, Economic Commentary ; Economic Commentary
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 January, 1994 Federal Reserve Bank of Cleveland, Working Paper no. 9419 ; Robert B Avery; Patricia E Beeson; Working Papers
Abstract: A discussion of how mortgage lenders might use posted lending terms to signal both their eagerness to take new loan applications and their lending standards.
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 February 15, 1993 Federal Reserve Bank of Cleveland, Economic Commentary ; Robert B Avery; Patricia E Beeson; Economic Commentary
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 January, 1993 Federal Reserve Bank of Cleveland, Working Paper no. 9310 ; Robert B Avery; Patricia E Beeson; Working Papers
Abstract: A documentation of racial and neighborhood differences in home mortgage denial rates using data collected under the Home Mortgage Disclosure Act, exploring the extent to which objective lending criteria are responsible for observed differences. The authors find persistent variations in denial rates between white and minority applicants, but emphasize that the HMDA data do not contain enough relevant information to draw any firm conclusions regarding causation.
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 January, 1993 Federal Reserve Bank of Cleveland, Working Paper no. 9309 ; Robert B Avery; Patricia E Beeson; Working Papers
Abstract: An examination of how and why individual financial institutions vary in their propensity to attract and approve mortgage applications from minorities, using Home Mortgage Disclosure Act data.
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 January, 1992 Federal Reserve Bank of Cleveland, Working Paper no. 9219 ; Robert B Avery; Patricia E Beeson; Working Papers
Abstract: A lender-specific analysis of differences in minority and low-income mortgage loan originations using new applicant-level data gathered under the Home Mortgage Disclosure Act of 1975.
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 February 13, 1984 Federal Reserve Bank of Cleveland, Economic Commentary ; Daniel A Littman; Economic Commentary
Abstract: A discussion of wage behavior over the business cycle and of the effect of deferred wage increases, cost-of-living adjustments, and current settlements on labor union rates, using the auto industry as an example.
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 September 21, 1981 Federal Reserve Bank of Cleveland, Economic Commentary ; Economic Commentary
Abstract: The state of Ohio, which currently forbids private-insurance companies from competing with the state-run workers’ compensation program, is now in the throes of deciding whether to allow private-insurance carriers to enter the market.
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 January, 1981 Federal Reserve Bank of Cleveland, Working Paper no. 8101 ; Working Papers
Abstract: This paper investigates a penumbral issue in the UI financing literature: the relationship between experience rating, public and private UI systems, and individual welfare.
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 March 24, 1980 Federal Reserve Bank of Cleveland, Economic Commentary ; Economic Commentary
Abstract: Inflation has played a major role during the past few years in determining the substance and form of collective bargaining agreements. This Economic Commentary examines the inituences of inflation on negotiated settlements, with special emphasis on cost-of-living adjustment clauses.
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Title Date Publication Author(s) Type
Introduction to Conference Volume: Monetary Policy in a Low-Inflation Environment:

 

 November 1, 2000 Journal of Money, Credit, and Banking, vol. 32, no. 4, , Part 2 Nov. 2000, pp. 845-69 ; Jeffrey C Fuhrer; Journal Article
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Neighborhood Information and Home Mortgage Lending

 

 March 1, 1999 Journal of Urban Economics, vol. 45, no. 2, March 1999, pp. 287-310 ; Robert B Avery; Patricia E Beeson; Journal Article
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Posted Rates and Mortgage Lending Activity

 

 July 1, 1996 Journal of Real Estate Finance and Economics, vol. 13, no. 1, July 1996, pp. 11-26 ; Robert B Avery; Patricia E Beeson; Journal Article
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An Evaluation of the HMDA Data

 

 1995 In: Fair lending analysis: A compendium of essays on the use of statistics, 1995, pp. 37-44 ; Robert B Avery; Patricia E Beeson; Article in Book
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Price Stability: The Policy and Research Perspectives

 

 December 1, 1992 Eastern Economic Journal, vol. 18, no. 1, Winter 1992, pp. 55-63 ; W. Lee Hoskins; Journal Article
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The Business Economist at Work: The Research Department of the Federal Reserve Bank of Cleveland

 

 July 1, 1991 Business Economics, vol. 26, no. 3, July 1991, pp. 45-48 ; Journal Article
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