Roughly two-thirds of firms responding said they raised prices to offset higher costs, according to the latest Survey of Regional Conditions and Expectations (SORCE).
This past month, the Cleveland Fed released new insights about regional business conditions andan infographic that explains the Federal Reserve’s supervision of financial institutions. Below you’ll also find links to the videos and transcripts of recent public events, including one where our president, Beth Hammack, explains the importance of engaging with you, the public. This is our final newsletter of 2025; we’ll be back in your inbox in the new year.
The Cleveland Fed Digest team
OUR COMMUNITIES
Meet Brian Anderson, the new regional exec for the Cleveland area
Anderson joined the Cleveland Fed in September and is responsible for monitoring developments in the regional economy, contributing to the Bank’s monetary policy mission, and managing regional relationships, mainly in northern and central Ohio.
Regional business survey: Nonlabor costs up 6.8 percent in past year
Roughly two-thirds of firms responding said they raised prices to offset some or all of these higher costs, according to the latest Survey of Regional Conditions and Expectations (SORCE).
Hammack: Data’s not enough. Conversations help complete the picture
The insights gained by engaging with workers, business owners, and other community stakeholders complement official statistics, providing a better picture of how people experience the economy, Cleveland Fed president Beth Hammack wrote.
The public’s role in what the Cleveland Fed does and how we do it
President Beth Hammack discussed how engagement with the public plays an important part in how the Bank contributes to the Fed’s goals of stable prices and maximum employment, and its responsibility for financial stability.
Getting a better handle on regional economic developments
The Business Outlook and Trends Survey (BOTS) offers a twice-yearly snapshot of factors such as labor markets, prices, and demand for goods and services in our region.
Inflation “more concerning” because it’s broad based, Hammack says
Tariffs, rising electricity costs, and increases in home, auto, and health insurance have all recently contributed to inflation, Cleveland Fed president Beth Hammack said during an October 31 fireside chat at the Dallas Fed, explaining why she remains concerned about the persistence of inflation. Hammack reiterated her unease with inflation in a November 6 speech in New York.
A new infographic: Why and how the Fed supervises banks
Supervision is one of the Federal Reserve’s core responsibilities to promote the safety and soundness of individual financial institutions and monitor their impact on the financial system.
The discount window helps banks and other depository institutions manage their liquidity risks efficiently and ensures they have access to credit no matter what is happening in the economy.
A large number of people both inside and outside the Fourth District could benefit from an increase of relatively high-wage manufacturing jobs. Our recent District Data Brief provides important context for the discussion of potential reshoring.
Artificial intelligence is causing anxiety among workers and will bring disruption and turbulence to the workforce, but it will eventually be a “huge win” for the US economy, said Brent Orell, who studies employment issues and discussed his work on AI at the Bank’s Policy Summit.
Conversations on Central Banking highlights alternative measures of inflation
A variety of alternative inflation data sources can complement official government statistics, and our recent webinar explored the benefits and challenges of some of them.
Editor's note: Our subscribers asked for more information about the people of the Federal Reserve.
Meet Lisa Gerdeman-Kern, senior manager of product strategy and insights in our Treasury Services Department. She supports the department’s product strategy, analytics, customer insights, and user experience functions.
What do you want other people to know about you?
Though I’ve been at the Federal Reserve for three years, I’ve spent over 25 years working in regional banking. My experience spans a variety of areas that I’ve been able to apply to my work in Treasury Services, including marketing analytics, customer satisfaction, product strategy and research, customer segmentation and targeting, and usability research.
What is your greatest accomplishment recently? Winning the Cleveland Fed’s President’s Award was definitely a highlight. I am proud of my recent work with the Payment Integrity “tiger team” co-led by members of the US Department of the Treasury. The work, which focused on identifying solutions to improve the integrity of federal payments, was tremendously rewarding.
Who inspires you?
My children are my inspiration. While they couldn’t be more different, they are both successful in their own ways. My son, Cody, has never backed down from a challenge. He graduated this spring with a certified registered nurse anesthetist doctorate from Case Western Reserve University. My daughter, Taylor, is very compassionate and driven. She will graduate in December with a master’s degree from the University of Southern California. I couldn’t be more proud and am so inspired by both of them!
How do you spend your time outside of the Bank? I enjoy traveling and spending time with family and friends. Traveling has allowed me to appreciate different cultures and experiences. And spending time with family and friends gives me a reason to unplug from work and keeps me balanced. I am truly fortunate!
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Federal Reserve Bank of Cleveland, 1455 E 6th St, Cleveland, OH 44114, US
