News from the Fed

  • Conference on Financial Stability Analysis: Papers, Presentations Now Available
  • We’re sorry that you missed "Financial Stability Analysis: Using the Tools, Finding the Data," a sold-out conference sponsored by the Federal Reserve Bank of Cleveland and the Office of Financial Research on May 30-31 in DC. If you’re interested in reading the conference papers and presentations, you can find them here Read more
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  • Employment gains likely to be smaller than in past recoveries, say Cleveland Fed researchers
  • The Federal Reserve announced in December that if the outlook for the U.S. labor market does not improve substantially, the central bank’s asset purchases would continue. What constitutes "substantial" employment gains is a subjective judgment. Read more
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  • President Pianalto Discusses the Federal Reserve’s Role in Promoting Financial Stability
  • Speaking at the Financial Stability Conference in Washington, D.C., Federal Reserve Bank of Cleveland President and CEO Sandra Pianalto discussed the FOMC’s efforts to expand transparency, explained how greater transparency can promote financial stability, and outlined additional steps that regulators could take to increase transparency. Read more
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  • Five Policy Considerations for Improving Ohio’s Housing Markets: Cleveland Fed
  • Ohio’s housing markets still face a number of challenges, some similar to those faced by other states, such as continuing elevated foreclosure rates, and others that are distinct to our region, such as a prevalence of vacant, low-value housing. The Federal Reserve Bank of Cleveland has identified five areas where policy interventions are worth considering. Read more
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From President Pianalto

Sandra Pianalto, President and CEO, Federal Reserve Bank of Cleveland
Sandra Pianalto
President and CEO
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Conference on Financial Stability Analysis: Papers, Presentations Now Available

We’re sorry that you missed "Financial Stability Analysis: Using the Tools, Finding the Data," a sold-out conference sponsored by the Federal Reserve Bank of Cleveland and the Office of Financial Research on May 30-31 in DC. If you’re interested in reading the conference papers and presentations, you can find them here. You’ll also find videos of keynote presenters Richard Berner, director of the OFR, and Sandra Pianalto, president and CEO of the Cleveland Fed.
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President Pianalto Discusses the Federal Reserve’s Role in Promoting Financial Stability

Speaking at the Financial Stability Conference in Washington, D.C., Federal Reserve Bank of Cleveland President and CEO Sandra Pianalto discussed the FOMC’s efforts to expand transparency, explained how greater transparency can promote financial stability, and outlined additional steps that regulators could take to increase transparency.
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Five Policy Considerations for Improving Ohio’s Housing Markets: Cleveland Fed

Ohio’s housing markets still face a number of challenges, some similar to those faced by other states, such as continuing elevated foreclosure rates, and others that are distinct to our region, such as a prevalence of vacant, low-value housing. The Federal Reserve Bank of Cleveland has identified five areas where policy interventions are worth considering: a foreclosure fast track for vacant and abandoned property; elimination of minimum-bid requirements; addressing harmful speculation; expanded access to land banks; and improved data collection and access.
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  • Credit Easing
  • CFSI
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Credit Easing Policy Tools

Compare the amounts of different assets on the Federal Reserve balance sheet, from T-bills to mortgage-backed securities. 

Median Consumer Price Index

Cleveland Financial Stress Index

Tracking stress in U.S. financial markets on a continuous basis. 

Median Consumer Price Index

Estimates of Inflation Expectations

Estimates of inflation expectations, the real interest rate, and the inflation risk premium. 

Median Consumer Price Index

Median Consumer Price Index

A more accurate measure of the underlying inflation trend. 

Median Consumer Price Index

Latest Economic Research

  • What Constitutes Substantial Employment Gains in Today’s Labor Market?
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  • The Federal Open Market Committee (FOMC) has tied its asset purchases to a "substantial improvement" in labor market conditions. While we don’t speculate on what the FOMC means by substantial improvement, we do explore the level of monthly job gains that would gradually deliver the underlying trend unemployment rate within a reasonable timeframe, under several plausible scenarios. We find that the path of monthly job gains, which is highly dependent on a few key parameters, is likely to be smaller than the path associated with previous recoveries. Read more  (PDF)
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  • The Ever-Updated Personal Saving Rate
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  • The Bureau of Economic Analysis estimates that the personal saving rate for the first quarter of 2013 was 2.3 percent—a five-year low, and a substantial drop from the fourth quarter of 2012, when it stood at 5.3 percent. Since many economists think a healthy household balance sheet is a necessary condition to fuel a stronger economic recovery, should we be worried about how low this estimate of the saving rate is? Read more
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  • Banks Increase their Holdings of Safe Assets
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  • The banking sector seems to have transitioned to a new state in which a higher percentage of bank assets is held in safe forms. During and after the last recession, the percentage of bank assets held in cash, Treasury securities, and agency securities experienced a steep rise, while loans and leases dropped. Read more
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