FedTalk

The FedTalk series brings the Cleveland Fed together with industry experts, local businesses, community organizations, policymakers, and engaged citizens to discuss issues affecting the communities and people we serve.

Dive into the Business Outlook and Trends Survey (BOTS) 11/06/2025

Understanding Inflation Expectations 10/09/2025

Understanding Inflation Expectations 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 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 /episode/index/show/e54ccd76-ee9c-4804-8a24-9b125a553928/id/38524555

A Conversation with Federal Reserve Bank of Cleveland President Beth Hammack 09/29/2025

A Conversation with Federal Reserve Bank of Cleveland President Beth Hammack 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 communities to the Federal Reserve’s policy-setting meeting in Washington DC. There are 12 Reserve Banks across the country. Each serves a specific region, and all Reserve Banks operate under the umbrella of the Federal Reserve System. The primary functions of the Federal Reserve concern Monetary policy: Setting US monetary policy to promote maximum employment and stable prices in the US economy. The aim is to protect your standard of living. Supervision and regulation: Promoting the safety and soundness of individual financial institutions and monitoring their impact on the financial system. As a result, you can be confident the bank you choose is operating in a safe and sound manner. Payments systems: Promoting a safe, efficient, and accessible system for US dollar transactions. This includes circulation of paper currency and coin. It also ensures the safe transport of transferred money and electronic bill payments from point A to point B. Financial stability: Monitoring financial system risks. This helps ensure a strong economy for US households, communities, and businesses, even in uncertain times. Consumers and communities: Advancing supervision and economic research. This improves understanding of the impacts of financial services policies on consumers and communities and helps facilitate access to economic opportunity for all. This session will enhance your understanding of the Federal Reserve and its impact on the economy and our communities. Join us for an engaging and informative discussion. President Hammack will answer questions during the question-and-answer portion of the event. Attendees can also submit questions in advance through the registration form. Speaker Beth Hammack, President and Chief Executive Officer, Federal Reserve Bank of Cleveland Moderator Lila Mills, Editor-in-Chief, Signal Cleveland /episode/index/show/e54ccd76-ee9c-4804-8a24-9b125a553928/id/38394005

Meeting the Workforce Needs of In-Demand Industries in Ohio 08/26/2025

Meeting the Workforce Needs of In-Demand Industries in Ohio 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 perspectives on the unique challenges and opportunities in Ohio, including what’s going well and where they see room for future innovation and growth. Specifically, they will discuss the role of community colleges in developing workforce and training programs that are not tethered to one employer or one industry but designed to give workers transferable skills that can be used across multiple career pathways. What are some of the challenges unique to this state versus others? Where are there successes and where do challenges remain? Panelists will discuss: The promise of the semiconductor industry, and related industries The dynamism of these industries and their changing needs What we know about effective models of cross-sector workforce partnerships both locally and nationally. The presentation and panel discussion will be followed by Q&A. Speakers Lavea Brachman, Nonresident Senior Fellow, Brookings Institution and Visiting Fellow, University College London Abbi Failla, Vice President, Business Operations, EASE Logistics Scott McLemore, Member, Executive Board, Governor’s Office of Workforce Transformation and Executive in Residence, Columbus State Community College Moderator Khaz Finley, Outreach Manager, Federal Reserve Bank of Cleveland /episode/index/show/e54ccd76-ee9c-4804-8a24-9b125a553928/id/37965050