Low-wage workers in hospitality, transportation, and manufacturing saw the largest wage gains during the rebound from the COVID-19 shutdown, researchers found.
In recent remarks, Cleveland Fed president Beth Hammack outlined a “strong case” to hold monetary policy steady and laid out long-term issues for the Fed to address in managing its balance sheet.
Hammack to CNBC: More time is needed to assess tariffs’ impacts
“I think we need to be patient” in determining what effect tariffs may have on monetary policy, Cleveland Fed president Beth Hammack said on Squawk Box in her first nationally broadcast interview as a central banker.
Coming soon to Conversations on Central Banking: tariffs
In the next installment of the Bank’s webinar series, panelists will discuss how tariffs affect the economy, the impact of tariff policy uncertainty, and lessons we can learn from past tariff episodes.
As the pandemic ebbed and the economy reopened, who got the biggest raises?
Low-wage workers in hospitality, transportation, and manufacturing saw the largest wage gains during the rebound from the COVID-19 shutdown, researchers found.
Fed Talk: Financial literacy is a career navigation tool
Knowing how to budget, save, and invest can translate into better decisions about pay, benefits, retirement packages, and other variables in the job market.
A new report based on data from the Small Business Credit Survey updates trends across 11 key indicators for different firm categories ranging from revenue and employment growth to loan applications and debt.
Survey of Community Development Financial Institutions (CDFIs) seeks insights into their work
Help the Fed learn more about what’s working and what could be done better to provide financial products and services to underserved consumers, businesses, and communities.
Survey highlights tariff concerns of businesses in region
Nearly two-thirds of respondents to the February Survey of Regional Conditions and Expectations (SORCE) said tariffs would impact their business, with a majority of those expecting to be impacted anticipating an increase in input costs and lower demand for their products.
Wondering what skills employers are looking for in our region?
Look no further than a recent report using data from the Occupational Mobility Explorer. It shares that there is strong demand for “social and soft skills."
Spring business activity in Cleveland Fed District has been flat, contacts said
Activity was expected to remain flat in the months ahead, according to those surveyed for the Bank’s contribution to the Beige Book, the Fed’s national report on current business conditions.
View the full agenda and the list of standout speakers for this year’s conference, focused on “Building Strong and Sustainable Communities.” Only 150 of 400 in-person seats remain.
Editor's note: Our subscribers asked for more information about the people of the Federal Reserve.
Meet Rob Beck, assistant vice president, end user services in the Information Technology Department. He has worked in the technology field for nearly two decades, and in 2022, he brought his expertise to the Bank.
Can you share a little about your role?
I manage the teams under IT’s end user services umbrella: end user support, end user engineering, and asset management. I also lead a centralized asset management group on behalf of the Cleveland Fed and other Reserve Banks. I’m very lucky to work with such a great group of professionals.
A typical day involves lots of meetings and speaking to people across the System. I focus on leading high-performing teams while bringing an excellent user experience to our employees through strategy, support, and innovative projects.
What attracted you to the Bank? It’s important to me that my work has meaning behind it, and working here fulfills that need. Not only is the Federal Reserve a prestigious institution, but I believe in its mission, too.
You were a recipient of the Cleveland Fed’s Spirit of Innovation Award. How did it feel to receive that honor? Being part of the team that won the Spirit of Innovation Award was an awesome and rewarding experience. The problem we were solving for was the amount of work being performed by our Cincinnati office’s cash services team to locate specific cash containers for processing. I have a background in LEAN Six Sigma and knew I could help drive efficiency. We pulled together a collaborative team consisting of Cincinnati cash and Cleveland IT employees. The team redesigned the vault layout and developed a technology tool to track inventory. The project is expected to net significant long-term benefits and is a shining example of how working together cross-functionally can drive efficiency throughout the Fourth Federal Reserve District.
What do you want other people to know about you? I am a huge baseball fan! I coached baseball for many years and am in the process of visiting every MLB stadium in the country with my family. We have been to 25 of 30 stadiums.
Where is the most exciting place you have traveled? I’ve been lucky enough to work on five different continents (Asia, Australia, Europe, North America, and South America) throughout my career. London and Shanghai were my two favorite places.
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Federal Reserve Bank of Cleveland, 1455 E 6th St, Cleveland, OH 44114, US
