News and Events

The Federal Reserve System released the 2022 annual financial statements for the 12 Federal Reserve Banks, individually and combined, as well as for the Board of Governors.

To support American businesses and households, the Federal Reserve Board on March 12, 2023 announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors. This action will bolster the capacity of the banking system to safeguard deposits and ensure the ongoing provision of money and credit to the economy.

The 2023 Report on Employer Firms: Findings from the 2022 Small Business Credit Survey, issued today by the 12 Federal Reserve Banks, found promising signs that some small business trends are returning to prepandemic norms. For the first time since the 2020 survey, firms in the SBCS were more likely to report that revenues and employment levels increased rather than decreased in the past 12 months, and the share of firms reporting that they were operating profitably rose substantially year-over-year.

New research from the Federal Reserve Bank of Cleveland finds that the Cleveland Fed’s inflation nowcasting model has tended to outperform surveys of professional forecasters, including since the start of the pandemic. The model’s estimates have historically been more accurate than alternative statistical models for headline inflation, with comparable accuracy for core inflation.

The joint taxation of married couples, the linkage of Social Security retirement income to a spouse’s benefits, and the expense of childcare disproportionately affect women and hinder their participation in the US labor force, according to a review of research by Federal Reserve Bank of Cleveland economist Lara Loewenstein.

Loretta J. Mester-President and Chief Executive Officer- 2023 US Monetary Policy Forum Sponsored by the Initiative on Global Markets at the University of Chicago Booth School of Business, New York, NY, February 24, 2023, 10:15 a.m. EST

President Mester discussed “Returning to Price Stability: In It to Win It” with Financial Executives International of Northeast Ohio and the Association for Corporate Growth Cleveland on February 16, 2023. The remarks on the national economy and monetary policy are the same as those delivered earlier on February 16, 2023.

President Mester discussed “Returning to Price Stability: In It to Win It” in a virtual appearance at a Global Interdependence Center conference on February 16, 2023.

Presentation by Ed Knotek, Senior Vice President, Federal Reserve Bank of Cleveland, and Robert Rich, Director of the Center for Inflation Research & Senior Economics and Policy Advisor, Federal Reserve Bank of Cleveland - Remarks -- National Association for Business Economics

Loretta J. Mester-President and Chief Executive Officer-Federal Reserve Bank of Cleveland- Markus’ Academy, Princeton Bendheim Center for Finance, Princeton University, Princeton, NJ (via videoconference) November 10, 2022, 12:30 p.m. EST

Cleveland Fed’s Mester: Need to do more to get back to price stability

Transcript: AP interview with Cleveland Fed President Mester

Fed Needs High Rates for ‘a While’ to Cool Prices, Mester Says

Behind the Markets Podcast: Edward S. Knotek II & Robert Rich

Fed's Mester wants more progress on inflation before ending interest rate hikes