Press Releases
2022
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Fed Survey Finds Financial Challenges Increasing Among Smallest US Firms
The Small Business Credit Survey 2022 Report on Nonemployer Firms, part of a series of reports from a national survey of small businesses conducted by the 12 Federal Reserve Banks, found that most businesses with no employees other than the owner were earning lower revenues than before the pandemic. Read More
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President’s Speech: “Inflation, Inflation Expectations, and Monetary Policymaking Strategy”
President Mester discussed “Inflation, Inflation Expectations, and Monetary Policymaking Strategy” at MIT on September 26, 2022. Read More
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Update on Fed Funds Rates Based on 7 Simple Monetary Policy Rules: Cleveland Fed
The Cleveland Fed’s webpage, Simple Monetary Policy Rules, presents detailed results from the researchers’ analysis and a spreadsheet so users can customize their own simple monetary policy rule and forecast. Read More
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President’s Speech: “An Update on the Economic Outlook and Monetary Policy”
President Mester discussed “An Update on the Economic Outlook and Monetary Policy” Read More
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How should monetary policy respond to a contraction in labor supply? Not the way conventional models prescribe, according to Cleveland Fed analysis
New research from the Federal Reserve Bank of Cleveland challenges the conventional wisdom that a central bank should offset the inflationary effects of a surprise decline in labor supply. Read More
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President’s Speech: “Returning to Price Stability”
President Mester discussed “Returning to Price Stability” in Dayton, Ohio. Read More
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Eviction Filings Have Largely Returned to Prepandemic Levels as Eviction Restrictions Ease
This Economic Commentary finds that policies which limited evictions during the pandemic were effective at doing so. Read More
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COVID-19 Mortgage Forbearance Programs Successful in Limiting Delinquencies and Avoiding Widespread Abuses
This Economic Commentary provides evidence that most government-insured mortgage borrowers who used mortgage forbearance authorized by the CARES Act “did actually need it” to remain current on a mortgage. Read More
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Among Small Businesses Seeking Financing, Online Lender Applicants Cite High Interest Rates and Unfavorable Repayment Terms Amid Declining Approval Rates
The share of small businesses seeking credit at online lenders steadily grew in the years leading up to the COVID-19 pandemic. Following the onset of the pandemic, however, applications to online lenders declined, as did their approval rates, with the rate of denials exceeding those of small and large banks, according to an analysis of data from the Federal Reserve’s 2021 Small Business Credit Survey. Read More
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Means-Tested Transfers and Prospects for a Universal Basic Income Program in the US
Cleveland Fed researchers consider recent research suggesting that the elimination of asset requirements, such as policies similar to a universal basic income, could make some Americans better off, though not without large fiscal and macroeconomic consequences. Read More