Cleveland Fed
@clevelandfed.bsky.social
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Official account of the Federal Reserve Bank of Cleveland, serving the Fourth District since 1913.
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A recent Economic Commentary presents estimates of the neutral #InterestRate from a newly developed model and provides a high-level description of the model. See our latest Center for Inflation Research newsletter: https://clefed.org/4gZPwga
Fourth District contact reports suggested flat business activity in recent weeks, but contacts expected activity to increase modestly in the months ahead. #BeigeBook clefed.org/3ih7pZx
According to a new Small Business Credit Survey report, compared to stable nonemployers, potential employers were more likely to report that they had experienced financial challenges in the prior year. See the details: https://clefed.org/43kogmS
The Small Business Credit Survey provides insights on nonemployer firms, or small businesses that do not have any paid employees besides the owner(s). Learn about their firm performance, challenges, and more: https://clefed.org/43kogmS
We studied how households update their inflation expectations. We show that households more frequently update their expectations when the signal is above the prior compared to when the signal is below. This helps explain why disinflations can be sluggish clefed.org/4hb3oUP
Our Survey of Regional Conditions and Expectations was administered in September, and included questions for Fourth District businesses surrounding nonlabor costs, selling prices, revenue, and more. See their answers: https://clefed.org/494E3Kj
Our Education and Learning Center is closed today. We will be open again tomorrow and Wednesday during our normal hours 9 AM—2 PM. Plan your visit: clefed.org/visit
“Our Education and Learning Center is closed today.”
We are hosting our thirteenth annual financial stability conference on November 20–21, 2025. This year’s conference theme is Financial Stability in a Time of Rapid Economic and Technological Change, register now to attend in Cleveland or virtually: https://clefed.org/42kurqM
“2025 Financial Stability in a time of Rapid Economic & Technological Change”
Inside the latest #CenterForInflationResearch newsletter: #PresidentHammack’s recent public remarks on #inflation, recordings from the recent CfIR-ECB annual inflation conference, indicators & data, the difference between #PriceLevel & inflation, and more https://clefed.org/4gZPwga
Announcement of new tariffs this year sparked debate about the feasibility of reshoring manufacturing. Our latest District Data Brief offers employment & demographic insights into this discussion: https://clefed.org/4nQGbKs #Tariffs
TODAY: Our #InflationExpectations Fed Talk with our Center for Inflation Research is happening at 3 pm ET. Register now to join us virtually and submit your questions to our panel of experts: https://clefed.org/4pzvqNG
Our Education and Learning Center is closed today and Monday. We will be open again on Tuesday, 10/14, during our normal hours 9 AM—2 PM. Plan your visit: clefed.org/visit
“Our Education and Learning Center is closed today and Monday.”
Our internships for summer 2026 are now open! View the available opportunities and learn more about the program: clevelandfed.org/internships
“Internship Applications Now Open”
Happy #WorldTeachersDay! Teachers, did you know we offer classroom-ready guides with resources designed to help educators and schools meet Ohio’s financial literacy curriculum standards? Check out our free resources today: https://www.clevelandfed.org/financial-literacy-curriculum #EconEdMonth
#SmallBiz owners: We are seeking responses to the #SmallBusinessCreditSurvey, which generates reports throughout the year to provide insights to #policymakers, service providers, and #lenders. Set aside a few minutes to respond: https://t.co/IfkY49xqHV https://t.co/MfVcpJgChX
How important is the information effect of #MonetaryPolicy? Researchers show the information effect reduces the output gaps caused by demand shocks & noise shocks, but may lead to a temporary rise in inflation after a contractionary monetary policy shock https://clefed.org/42SokKq
Like many states across the country, Ohio is hoping to grow the number of advanced manufacturing jobs. So how can we identify people that have the right skills for this line of work? The Occupational Mobility Explorer could be a key tool: http://bit.ly/4pxXMrL
Survey of Regional Conditions and Expectations (SORCE) total business conditions diffusion index decreased by 11 points to 2, while the total employment diffusion index increased by 11 points to 10. These results were calculated from the 9.18–9.25 survey clefed.org/SORCE
Results from our Survey of Regional Conditions and Expectations provide insight into how tariffs are affecting firms and the larger economy.
See our latest District Data Brief for details: https://clefed.org/4gMusts
Our researchers present a new model of mortgage default that better matches the data. They find that more realistically capturing the tradeoffs between staying in a home versus exiting into the rental market are key to understanding the decision to default https://clefed.org/4mDX7lU
"Is There a Puzzle in Underwater Mortgage Default?”
📈 Understanding #inflation expectations is key to understanding how inflation and the economy may change. Join our next Fed Talk on 10/8 to learn how these expectations shape consumer and business decisions and why they matter to central banks. Register: https://clefed.org/4pzvqNG
The Cleveland Fed’s median PCE #inflation rate was 0.2% in August and 3.3% on a year-over-year basis. Latest update: http://clefed.org/PCE
Our researchers present a new model of mortgage default that better matches the data. They find that more realistically capturing the tradeoffs between staying in a home versus exiting into the rental market are key to understanding the decision to default https://clefed.org/4mDX7lU
"Is There a Puzzle in Underwater Mortgage Default?”