Why do policymakers filter out food and energy prices to get a read on where inflation is headed? A multimedia infographic explains.
Eye on the economy
Speaking to Yahoo Finance, Cleveland Fed President Loretta J. Mester says economic developments will influence how long interest rates will need to stay above 5 percent. Watch the video.
Keeping the banking system safe
It’s vital for the Fed to use its regulation and supervision tools to keep the banking system safe, sound, and resilient, Cleveland Fed President Loretta J. Mester said in a recent speech in New York. Read the speech.
We’re getting there
Progress is being made in reducing inflation, but it remains too high and it would be a mistake to declare victory before the job is done, Cleveland Fed President Loretta J. Mester told the Akron Roundtable. Read her remarks.
Linkages between current inflation and inflation expectations have strengthened
New research explores how high short-term inflation expectations could make it harder to bring down inflation than before the pandemic, even when long-term inflation expectations remain anchored around the 2 percent inflation target. Read the study.
Small Business
Slow return to pre-COVID normalcy
On Experian’s Small Business Matters podcast, Emily Wavering Corcoran, who oversees the Small Business Credit Survey, discusses factors weighing down small business recovery in 2022. A recent webinar explores insights from the first report based on that survey, too.
Outreach
Reach for the summit
Join the Cleveland Fed’s 16th Policy Summit, June 21–23, to learn from more than 40 experts speaking on policies and programs affecting lower-income and underserved communities. Register here.
The latest Beige Book
Labor demand eased and demand for manufactured goods increased slightly, while consumer spending seemed to firm up a bit, but remained soft, according to the most recent summary of reports of economic and community conditions for the region served by the Cleveland Fed. Read what contacts said.
Workforce
On-the-job credentialing
Young people are increasingly entering the labor market hoping to receive certification and training on the job instead of getting credentials before entering the workforce. Watch the FedTalk conversation.
Economic Inclusion
Closing the wealth gap
Closing the racial earnings gap is key to addressing the gap in overall wealth between Black and white Americans. See this opinion piece.
Fostering an inclusive community
The Cleveland Fed supports inclusiveness in our communities and in our workplace. Learn more here.
Question: So many today lament that people “just don’t want to work.” Is it true? Or is something else keeping people from working?
Kyle: What is certainly true is there is a decline in labor force participation due to a few factors: the aging population (older people tend to work less); barriers that keep people out of the labor market (such as lack of childcare and the opioid epidemic); and the drop in immigration (immigrants fill a huge need in the workforce, including many lower-wage jobs).
The question we hear more often is “Where are the workers?” and that’s a pretty nuanced question. First, which job are you talking about?
Read the entire Q&A, in which Kyle Fee, who researches issues related to economic and workforce development, identifies actions employers are and are not taking to attract workers.
May 15
Fed Exploration: Exploring Career Opportunities at the Federal Reserve Bank of Cleveland
Looking for your next career move? Hear from a panel of professionals about their career journeys, what it’s like to work at the Bank, and the employment opportunities it offers.
