Dive into the Business Outlook and Trends Survey (BOTS)
FedTalk
The regional analysis group at the Cleveland Fed monitors the economy across the Fourth Federal Reserve District, which includes Ohio, eastern Kentucky, western Pennsylvania, and the northern panhandle of West Virginia. One important tool the group uses to keep tabs on economic developments across this region is the . Join us for a conversation about the BOTS and the key role it plays in illuminating economic trends across the Fourth District. The BOTS is distributed by partner organizations twice a year and gathers data from a diverse range of businesses in the Fourth District on topics...
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Understanding Inflation Expectations
FedTalk
In today's economic landscape, understanding the importance of inflation expectations is valuable for everyone—from everyday consumers to business owners and policymakers. Inflation expectations are what people think will happen to prices for goods and services in the future. This Fed Talk aims to demystify this concept. Expectations about inflation matter because they play a critical role in economic decision-making which, in turn, will influence actual inflation. For example, if consumers expect higher inflation, they may spend more now. If businesses expect higher costs, they may raise...
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A Conversation with Federal Reserve Bank of Cleveland President Beth Hammack
FedTalk
Reserve Banks play a pivotal role in the US financial system. The Cleveland Fed touches everyone in the Fourth District by Working with community and business partners to understand the economic landscape Supervising financial institutions Playing a vital role in the nation’s payments system In her first year, President Hammack has engaged with local community and business leaders in the Bank’s Fourth Federal Reserve District, comprising Ohio and parts of Kentucky, Pennsylvania, and West Virginia. She then brings their insights into how the economy is working for their...
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Meeting the Workforce Needs of In-Demand Industries in Ohio
FedTalk
The production of semiconductors, including microchips which are used in a wide variety of electronic applications such as phones and computers, is growing in the United States. Major investments have been made in states like Ohio, Arizona, Texas, New York and Oregon. One expert will present findings from case studies about how local partners from private industry, education and nonprofits in these places have come together to both boost productivity for employers and create promising career pathways for workers, particularly workers without a college degree. The panel will then share their...
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Federal Reserve Cash Services in the 21st Century
FedTalk
Supplying financial services is a core function of the Federal Reserve System. As a part of that work, the Federal Reserve operates 28 cash processing locations in the United States to distribute cash both within the United States and around the world. Our Cash Department is responsible for receiving currency from our financial institutions, validating the authenticity, and ensuring that all institutions have ready access to cash. In the Fourth District, we receive, process, and pay out cash at both our Cleveland and Cincinnati locations. In this Fed Talk, our speakers will discuss Cash 101 ...
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The Missing Piece: Financial Literacy’s Key Role in Effective Career Navigation
FedTalk
Financial literacy is important for success in any career. It gives people the knowledge, skills, and tools to make informed decisions. However, it is often a missing topic in conversations that prepare people to enter the workforce. Our panelists will discuss how current and future participants in the labor force can gain and use financial literacy. These financial skills will help them to navigate career decisions. Those who better understand finances are more equipped, for example, to address and consider the topics of compensation, benefits, retirement packages, and more as they pursue...
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A New SORCE: Timely Insights into the Region's Economy
FedTalk
At the Cleveland Fed, we monitor emerging trends by surveying regional business and community leaders about economic conditions in our region. Through these surveys, the businesses share the economic conditions that they face. This can provide insights in advance of other published macroeconomic indicators. Every six weeks, our regional experts collect and analyze insights from surveys completed by business and community leaders around the Fourth District. The Fourth District is the region served by the Cleveland Fed. It includes Ohio and parts of Pennsylvania, West Virginia, and Kentucky....
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2025 Economic Outlook
FedTalk
Join us as Federal Reserve Bank of Cleveland Research Director Edward Knotek provides an economic outlook for 2025. Knotek highlighted a broad array of indicators such as consumer spending, the labor market, and inflation to provide a snapshot of the economy and insight into what the Cleveland Fed team of economists look to in order to better understand the economy. Speaker , Senior Vice President and Director of Research, Federal Reserve Bank of Cleveland Moderator , Senior Regional Officer, Pittsburgh Branch, Federal Reserve Bank of Cleveland
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A Continued Discussion on Financial and Payments Inclusion
FedTalk
According to a 2021 study by the Federal Deposit Insurance Corporation (FDIC), 4.5 percent of American households do not have a bank account, and 14.1 percent are considered underbanked. New research being conducted within the Federal Reserve System and in academia looks at existing barriers to financial inclusion and the importance of trust in banking and payments choices. Why are people unbanked and underbanked in the US? How do we define underserved in digital payments and banking services? How does trust affect adoption of and access to digital payments and banking services? What do we...
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Getting Connected: Closing the Broadband Access Gap in the US
FedTalk
Being connected to the digital world is critical to everyday life. This is especially true in the employment arena with online job applications and remote work being the new norm. But large segments of the country are without broadband coverage. Join us for a conversation about the importance of broadband access. We will look at challenges to getting connected in rural and urban areas, developing digital skills, and building the infrastructure needed for broader access.
info_outlineIn today's economic landscape, understanding the importance of inflation expectations is valuable for everyone—from everyday consumers to business owners and policymakers.
Inflation expectations are what people think will happen to prices for goods and services in the future. This Fed Talk aims to demystify this concept.
Expectations about inflation matter because they play a critical role in economic decision-making which, in turn, will influence actual inflation. For example, if consumers expect higher inflation, they may spend more now. If businesses expect higher costs, they may raise prices preemptively. Both actions can contribute to higher inflation.
Because we cannot directly observe inflation expectations, we use various methods to measure them. These methods include surveys, forecasts, and inflation-related financial instruments.
October’s Fed Talk will highlight the relationship between expected and actual inflation. Our panelists will also be discussing:
- The definition and relationship between the price level, inflation, and inflation expectations
- The importance of inflation expectations for the decisions of consumers and firms
- The factors that influence inflation expectations, such as past inflation rates, economic policies, and global events
- Why central banks are interested in inflation expectations and how central banks can influence these expectations
- The importance of “well-anchored” inflation expectations
- Measuring inflation expectations as well as the interpretation and limitations of these measures
- A closer look at measures of inflation expectations developed and maintained by the Federal Reserve Bank of Cleveland
Speakers will include economists from the Federal Reserve Bank of Cleveland’s Center for Inflation Research. The Center is a leading resource to better understand all aspects of inflation through the availability of research, indicators, and educational tools.
Following the presentation, speakers will take questions from the audience.
Speakers
- Damjan Pfajfar, Vice President, Federal Reserve Bank of Cleveland
- Robert Rich, Senior Economic and Policy Advisor, Federal Reserve Bank of Cleveland
Moderator
- Chuck Soder, Senior Media Relations Specialist, Federal Reserve Bank of Cleveland