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Resilience and recovery after flooding in Kentucky

Thirteen counties in eastern Kentucky were declared federal disaster areas in 2022. Despite challenges related to flood insurance, housing, and labor, economic and housing recovery are well underway.

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Latest Numbers

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Median PCE Inflation

Median PCE inflation rate
+0.3% in October 2023

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Inflation Expectations

10-year expected inflation: 2.38%

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President’s Speech: Financial System Resilience

President Mester addressed the George G. Kaufman Center at Loyola University Chicago on November 29.

How are billions of dollars being spent to expand access to broadband internet connectivity?

In a new Ask the Expert, Merissa Piazza, a senior policy analyst, discusses how funding is being directed to expand broadband access and why the Federal Reserve cares about this issue.

Notes from the Field
Food Insecurity Revisited
An increase in visits to food banks across the region in 2023 prompts a look at how inflation and the expiration of pandemic aid are pinching low-income household budgets and may be increasing food insecurity in the Fourth District.
Economic Commentary
Excess Savings and Consumer Behavior: Excess Compared to What?
Highlighting differences in measures of counterfactual savings, we show that using consumption smoothing, post-pandemic excess savings are currently positive.
Economic Commentary
Implications of Bank Equity Price Declines for Inflation
Large declines in bank equity price indices are generally followed by declines in credit supply and economic activity, but they do not affect inflation.
Cleveland Fed District Data Brief
The Influence of Population Characteristics on the Labor Force Participation Rates of Fourth District States
The labor force participation rates of the Fourth District are lower than the nation’s. Fourth District states’ older populations and higher disability rates are key reasons for lower participation rates relative to the nation.
Research
Economic Commentaries
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Program on Economic Inclusion

A stable economy for all

That’s our goal at the Cleveland Fed. Serving the Fourth Federal Reserve District, we strive to ensure the health of our monetary system through our role in regulating financial institutions, and we promote education and community development through research and programming.

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Working as a software developer for the bank in Information Technology is engaging and rewarding. I get to build valuable solutions for customers while working with a team who foster creativity, innovation, and learning. There is never a dull moment in IT.

— Frank Cerny, Software Developer II