OUR NATION

Learning how monetary policy impacts us

Cleveland Fed president Beth Hammack and Federal Reserve Board Governor Lisa Cook heard from Policy Summit 2025 attendees about how labor market conditions, inflation, and other economic variables affect lives and livelihoods.

Hammack in the news: carefully watching labor market and inflation data

In recent interviews, Cleveland Fed president Beth Hammack said she continues to hear from families and businesses about the pain caused by elevated inflation.

Survey finds national small business outlook less bullish

Small businesses were less optimistic than they had been six months earlier about their future revenue and employment growth and their plans for capital investment, according to a survey of chambers of commerce and other small business resource organizations.

Wanted: Small Business Credit Survey partners

To circulate the Small Business Credit Survey each year, Federal Reserve Banks collaborate with a network of local, regional, and national partners that have strong relationships with small business owners. This year's survey launches on September 3.

Employers crucial to tackling benefits cliffs

Lower-wage-earning workers can face benefits cliffs when an increase in earned income prompts a larger drop in their public benefits. These cliffs impact employers, too, some of whom are finding ways to help their workers—and their bottom line.

Payment hubs are gaining traction

Payment hubs—which can bridge the gap between older banking systems and newer payment types—enable consumers to prioritize preferences, like speed or cost, when making payments.

OUR COMMUNITIES

Hammack invites community involvement in Cleveland Fed’s work

More community participation in Bank surveys would help researchers improve their understanding of the regional economy, Cleveland Fed president Beth Hammack said in keynote remarks at Cuyahoga Community College’s Corporate College in Cleveland.

Retailers noted pullback in consumer spending in latest Beige Book report

Selling prices rose modestly to cover costs related to tariffs, materials, and insurance, contacts reported in the latest survey of economic conditions in the region.

What were the expected impacts of higher tariffs?

Seventy percent of regional companies surveyed by the Cleveland Fed think higher tariffs will hurt their businesses.

Understanding the regional economy: Engagement (with you) is key

Our researchers produce reams of data about economic conditions, but our knowledge of those conditions also depends on listening to businesses and community members of the Fourth Federal Reserve District.

CALENDAR

August 25

Fed Talk: Meeting the Workforce Needs of In-Demand Industries in Ohio

September 29–30

Inflation: Drivers and Dynamics Conference 2025

November 13–14

Fall 2025 Midwest Macroeconomics Meeting

November 20–21

2025 Financial Stability Conference: Financial Stability in a Time of Rapid Economic and Technological Change

Editor's note: Our subscribers asked for more information about the people of the Federal Reserve.

Meet Javier Sevilla Ramal, an information technology manager at the Cleveland Fed who leads the DevOps team for the Treasury Services Department. His team helps automate processes and migrate software from a data center to the cloud. That work helps the department speed up software delivery while improving reliability and security. 

What do you want other people to know about you?

I was born in Zaragoza, Spain, where I spent the first three decades of my life and met my Cleveland-born wife Megan, who brought me to the United States. We live in Concord Township and have two sons, Daniel and Gabriel.

What gets you going in the morning?
Espresso coffee made with a Bialetti Moka. Coffee made in this small stovetop coffeemaker has an intense and concentrated flavor.

What do you find most enjoyable about your job?
I enjoy removing impediments and automating tasks for my team. Anytime I can point someone to a document or a person to help them finish an assignment, that’s very rewarding for me.

How do you spend your time outside of the Bank?
My family and I enjoy skiing. My wife and kids have to wait for me because they are excellent skiers, and I have a hard time keeping up. We also enjoy attending sporting events. We occasionally go to a Cavs or a Browns game, but the sporting event we enjoy the most is attending a Real Madrid game (the “other football”).

Where is the most exciting place you have traveled?
Spain. We travel there every year, and the most exciting part is that my sons and wife spend time where I grew up and with the rest of my family who still live there.

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