News and Events

The Bank has been named one of the region’s top employers through the program for 24 years in a row.

The Federal Reserve Bank of Cleveland announced that Ronald V. Johnson, Jr., has been named senior vice president and general counsel effective October 2, 2023.

President Mester discussed “Inflation: Four Questions Requiring Further Research to Inform Monetary Policy” at the Cleveland Fed and ECB’s annual Inflation Conference

Seven of the eight largest metro areas in the region saw their employment levels drop from 2019 to 2022, according to a new Cleveland Fed report.

After an increase in 2020, federal spending’s share of the region’s GDP has come back down, despite the impact of three large federal spending bills passed since November 2021.

Loretta J. Mester-President and Chief Executive Officer-Federal Reserve Bank of Cleveland-Closing Remarks, Inflation: Drivers and Dynamics Conference 2023-Federal Reserve Bank of Cleveland’s Center for Inflation Research and the European Central Bank-Frankfurt am Main, Germany

Loretta J. Mester-President and Chief Executive Officer-Federal Reserve Bank of Cleveland- Summer Institute 2023 Macro, Money, and Financial Frictions - National Bureau of Economic Research, Cambridge, MA

Loretta J. Mester-President and Chief Executive Officer-Federal Reserve Bank of Cleveland-2023 UC San Diego Economics Roundtable, San Diego, CA (via videoconference)

Loretta J. Mester-President and Chief Executive Officer-Federal Reserve Bank of Cleveland-2023 Policy Summit: Communities Thriving in a Changing Economy, Sponsored by the Federal Reserve Banks of Cleveland, Boston, Chicago, Dallas, Kansas City, Minneapolis, Philadelphia, Richmond, and St. Louis—Cleveland, OH

Loretta J. Mester-President and Chief Executive Officer-Federal Reserve Bank of Cleveland-The Global Interdependence Center Central Banking Series, Dublin, Ireland , May 16, 2023, 8:15 a.m. EDT

The question of whether or not the US Federal Reserve will raise its key interest rate even further is driving market participants and economists around the world. In an interview with Börsen-Zeitung, Loretta Mester, President of the Cleveland Regional Fed, gives her take of the situation.

We ‘probably have more work to do’ to get the underlying inflation, says Cleveland Fed president

Fed’s Mester on Inflation, Economy, Mortgage Rates

Inflation’s still too high and it’s stubborn…We have made progress, inflation is down from where it was last summer but it’s very slow progress and it’s concerning.

Fed’s Loretta Mester: ‘Rates are going to have to move up above that 5% level’