Federal Reserve Bank of Cleveland announces officer promotions

The Federal Reserve Bank of Cleveland announced the following officer promotions, effective July 1, 2017:

Ellis Tallman was promoted to executive vice president and director of research. He will continue to serve as a monetary policy advisor to Bank President Loretta J. Mester and as a member of the Bank's executive leadership team.

Tallman joined the Cleveland Reserve Bank in 2015 as senior vice president and director of research. Prior to joining the Cleveland Fed, Tallman was the Danforth-Lewis Professor of Economics at Oberlin College, where he chaired the Economics Department. In addition, he was a visiting scholar in the Research Department at the Cleveland Fed. Prior to joining Oberlin College, Tallman was a vice president and team leader for the macroeconomics group in the Research Department at the Federal Reserve Bank of Atlanta and an adjunct professor at Emory University. He also served a two-year appointment as a visiting senior research economist at the Reserve Bank of Australia, where he engaged in policy support and provided economic research for the Australian central bank.

Tallman received a bachelor’s degree in economics from Indiana University, Bloomington, and an MA and PhD in economics from the University of Rochester.

Todd Clark was promoted to senior vice president and research economist. He will continue to oversee the macroeconomic policy section within the Bank's Research Department.

Clark joined the Cleveland Reserve Bank in 2010 as a vice president and research economist. Prior to joining the Cleveland Fed, Clark was a vice president and head of the macroeconomics group at the Federal Reserve Bank of Kansas City. He is currently a co-editor of the Journal of Business and Economic Statistics.

Clark holds a bachelor’s degree in economics and mathematics from Wabash College and an MA and a PhD in economics from the University of Michigan.

Bruce Fallick was promoted to senior vice president and research economist. He will continue to oversee the Research Department's expanded regional and microeconomics section.

Prior to joining the Cleveland Reserve Bank in 2014 as a vice president and research economist, Fallick served as a senior economist in the Division of Research and Statistics at the Board of Governors of the Federal Reserve System. He also served as a visiting professor of economics at Oberlin College and as an assistant professor of economics at the University of California, Los Angeles (UCLA).

Fallick earned a bachelor's degree in philosophy and economics from the University of Pittsburgh and a PhD in economics from the University of Pennsylvania.

Edward S. Knotek II was promoted to senior vice president and research economist. He will continue to oversee the macroeconomic forecasting section in the Research Department.

Knotek joined the Cleveland Reserve Bank in 2012 as a vice president and research economist. Prior to joining the Cleveland Fed, Knotek was a vice president and economist at the Federal Reserve Bank of Kansas City.

Knotek has a bachelor's degree in mathematics-economics and Spanish from Denison University in Granville, Ohio. He holds an MA and PhD in economics from the University of Michigan.

Guhan Venkatu has been promoted to group vice president and will oversee a new regional outreach and analytics unit within the regional and microeconomics section of the Bank's Research Department.

The new regional outreach and analytics unit will bring activities currently housed in the Bank's External Outreach and Regional Analytics Department into the Research Department, in order to better align and integrate those activities with the economic analysis performed within the Research Department.

Since 2013, Venkatu has served as a vice president and senior regional officer of the Bank's Pittsburgh Branch. He will retain his current responsibilities in Pittsburgh until a new senior regional officer is hired, at which time he will relocate to Cleveland.

Venkatu joined the Cleveland Reserve Bank in 1998 as a research analyst. He assumed positions of increasing responsibility in the Research Department prior to being named a vice president and senior regional officer.

Venkatu currently serves on boards that oversee the Economic Club of Pittsburgh and the Pennsylvania Economy League of Greater Pittsburgh. He is also a graduate of Leadership Pittsburgh, and previously served as a member of the Ohio Governor's Council of Economic Advisors. Venkatu received undergraduate and graduate degrees in economics from Miami University in Oxford, Ohio.

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that along with the Board of Governors in Washington DC comprise the Federal Reserve System. Part of the US central bank, the Cleveland Fed participates in the formulation of our nation’s monetary policy, supervises banking organizations, provides payment and other services to financial institutions and to the US Treasury, and performs many activities that support Federal Reserve operations System-wide. In addition, the Bank supports the well-being of communities across the Fourth Federal Reserve District through a wide array of research, outreach, and educational activities.

The Cleveland Fed, with branches in Cincinnati and Pittsburgh, serves an area that comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.

Media contact

Doug Campbell, doug.campbell@clev.frb.org, 513.218.1892