News and Events

A record 5 percent of non-exempt workers in the 10 most populous US states experienced a minimum wage violation in 2025, according to new Cleveland Fed research.

Inflation expectations among U.S. business leaders decreased in the third quarter of 2026, according to the Survey of Firms’ Inflation Expectations (SoFIE), which is published by the Cleveland Fed’s Center for Inflation Research.

Banks’ indirect exposure to business loans made by nonbanks is small relative to their direct business loan holdings, according to an estimate published in new Cleveland Fed research.

In a speech at the City Club of Cleveland, President Hammack talked about why the FOMC’s inflation target is 2 percent, why it’s important to get back to that level in a timely manner, and why it’s critical to prevent an inflationary mindset.

Inflation expectations among U.S. business leaders increased in the second quarter of 2026, according to the Survey of Firms’ Inflation Expectations (SoFIE), which is published by the Cleveland Fed’s Center for Inflation Research.

Statement from Federal Reserve Bank of Cleveland president Beth Hammack regarding her vote at the Federal Open Market Committee’s July 28–29 meeting.

Beth M. Hammack—President and Chief Executive Officer—Federal Reserve Bank of Cleveland—City Club of Cleveland, Cleveland, Ohio

Statement from Federal Reserve Bank of Cleveland President Beth Hammack regarding her vote at the Federal Open Market Committee’s April 28–29, 2026 meeting

Beth M. Hammack—President and Chief Executive Officer—Federal Reserve Bank of Cleveland—2026 US Monetary Policy Forum, Kent A. Clark Center for Global Markets, University of Chicago Booth School of Business, New York, NY

Beth M. Hammack—President and Chief Executive Officer—Federal Reserve Bank of Cleveland—Ohio Bankers League 2026 Economic Summit—Columbus, Ohio