ICYMI: Panel discusses Fed’s responses to inflation
Economists from three Federal Reserve Banks discuss the who, what, and how of lowering inflation and what this inflationary period has taught them. See the video and full transcript.
The challenges of lowering inflation
During the recent 2023 US Monetary Policy Forum, Cleveland Fed President Loretta J. Mester commented on the paper “Managing Disinflations,” arguing, “the economy can evolve differently than expected and monetary policymakers should be prepared for that.” Read her full remarks.
Inflation nowcasting model outperforms alternatives
The Cleveland Fed’s inflation nowcasting model has outperformed many surveys from professional forecasters and delivered more accurate estimates than alternative statistical models for headline inflation, with comparable accuracy for core inflation. Read more about this tool.
Banking
What is the Bank Term Funding Program?
The Federal Reserve Board of Governors has set up a program to help assure banks, savings associations, credit unions, and other eligible depository institutions can continue to meet customer needs for cash and credit. The capital and liquidity positions of the US banking system are strong, and the US financial system is resilient, and this program offers additional support. Learn more about the Bank Term Funding Program.
More than 100 years ago...
The Federal Reserve was created. Read (and watch) why and how we serve the American public.
Small business
“No clear forecast going forward”
Many respondents to the Small Business Credit Survey saw their businesses grow last year but foresaw challenges in the year ahead. Read their comments and the full report.
Workforce
An uneven workforce recovery
The US labor market has recovered the jobs lost during the pandemic, but there’s significant variation in the recovery across states and counties and across occupations and industries. Explore the data.
Challenges to boosting female labor supply
A Cleveland Fed Economic Commentary examines how US income tax policy, allocation of Social Security benefits, and childcare costs hinder women’s participation in the labor force. Learn more here.
Outreach
Speakers you’ll hear at Policy Summit 2023
Attend the Summit this June and hear keynote speaker, Angela Williams—the first Black woman to be president and CEO of United Way Worldwide—share her experiences and insights about how we can build stronger, more resilient, and equitable communities. See the other speakers we've just announced, then register before March 31 to save.
Museum exhibit snags gold
The Ohio Museums Association awarded the Cleveland Fed’s Money Museum a Gold award in the 2022 Visual Communication Competition for its Negro Leagues Baseball Centennial Coin exhibit. See it in the Money Museum.
Banking
Wage pressures ease
The share of Cleveland Fed business and civic contacts reporting increased pay for workers was one of the lowest in the past 12 months; however, that trend was not consistent. Find out which sectors are still paying large increases and learn more about economic conditions in the Cleveland Fed’s region.
Question: Given inflation’s impact on everyday living expenses, what budgeting tips can young people follow to “live within their means,” and why should they?
Samantha: First, try keeping housing costs as low as possible, especially now with rent costing more in many places. You can cut housing expenses by getting a roommate. I’ve lived with roommates so that I could lower my housing costs, even though it meant forgoing certain comforts such as privacy.
Read the entire Q&A, in which Samantha Tyler, a Cleveland Fed coordinator who works to provide resources to schools in the Columbus and Dayton areas, shares three tips she lives by and another she needs to follow.
April 12
FedTalk: Straight to Work: Some Young Adults Seek to Learn on—not before—the Job
