• The spread of the #COVID19 pandemic has resulted in a dual public health & economic crisis. Read more from Cleveland Fed researchers as they summarize the methods & findings of a number of quickly emerging bodies of literature on the economics of pandemics Link
    ClevelandFed Fri 29 May 2020 19:39

    Research Economist

    Sewon Hur is a research economist in the Research Department of the Federal Reserve Bank of Cleveland. He specializes in macroeconomics and international economics.

    Read bio…
  • UPDATED: What’s your state’s mortality rate trajectory? View changes in #COVID19 mortality rates for the 40 largest US states. Read the full report here: Link https://t.co/Xjh9EQF0Za
    ClevelandFed Fri 29 May 2020 19:14

    Policy Economist

    Joel Elvery’s primary fields of interest are labor, public, and urban economics. He also specializes in applied econometrics, which involves studying economic models and using statistical trials to calculate future trends.

    Read bio…
  • Even as the economy reopens from #COVID19 shutdowns, “Consumers continue to see a long road ahead”—Edward Knotek, SVP, Research Dept Link
    ClevelandFed Fri 29 May 2020 18:39
    Background: The Cleveland Fed has been maintaining a survey of consumers for their views on how they are responding to COVID-19, the illness caused by the novel coronavirus of late 2019, and how COVID-19 is likely to impact the economy. Description: We update the results from these surveys on a weekly basis.
  • A sizeable share of firms in the Fourth District believed the worst declines in #demand have passed. However, few expect a strong #recovery given the uncertainty of the #coronavirus’s path. #BeigeBook Link https://t.co/imwL0Mv3OX
    ClevelandFed Fri 29 May 2020 15:33

    The Beige Book, released 8 times a year, contains reports of economic conditions across the United States by region. Reports are based on information gathered primarily through interviews with business people and are prepared by each of the 12 Federal Reserve Banks for their respective Districts.

  • We are living our values! Find out more about our culture, and explore open positions on our careers site: Link https://t.co/Ov2nrG2rPS
    ClevelandFed Fri 29 May 2020 14:33

    Our mission is founded in public service—strengthening the economic performance of the nation and our region and making a difference in the communities we serve. At our Bank, you’ll get the benefits you need and have the work–life balance you want. Your health, finances, and professional achievement matter to us. And our culture is one of inclusion, in which diversity of thought is encouraged and uniqueness embraced.

    Be part of something big. Be part of our future. Make the Federal Reserve Bank of Cleveland your next career move.

  • JUST RELEASED: Lessons on the Economics of Pandemics from Recent Research Link
    ClevelandFed Fri 29 May 2020 13:38

    Research Economist

    Sewon Hur is a research economist in the Research Department of the Federal Reserve Bank of Cleveland. He specializes in macroeconomics and international economics.

    Read bio…
  • TODAY 11AM ET: Join @BostonFed for a webinar and Q&A for potential borrowers to learn more about the #FederalReserve’s Main Street Lending Program. Register: Link #MSLP info: Link https://t.co/RN9b6tJhKb
    ClevelandFed Fri 29 May 2020 13:03

    This webinar is an opportunity for potential borrowers in the Main Street Lending Program to learn more about the program and ask questions to senior officials from the Federal Reserve. The Main Street Lending Program supports small and medium-sized U.S. businesses and their employees during this period of financial strain by giving these businesses access to additional credit. The program is intended to help companies that were in sound financial condition prior to the onset of the COVID-19 pandemic maintain operations and payroll until conditions normalize. Small and medium-sized businesses are integral to the U.S. economy and create jobs for a large share of the U.S. workforce.

    To allow as many potential borrowers to participate as possible, we ask each business to register no more than two representatives for the live session. A recording of the session will be available shortly after the call. We strongly encourage participants to use the...

  • President Mester will be on Bloomberg TV live at 9:15 a.m. EDT today.
    ClevelandFed Fri 29 May 2020 12:38
  • NEW: Cleveland Fed report on pandemic research shows adequate testing and selective containment measures can be effective in fighting #COVID19 Link
    ClevelandFed Thu 28 May 2020 21:08

    Research Economist

    Sewon Hur is a research economist in the Research Department of the Federal Reserve Bank of Cleveland. He specializes in macroeconomics and international economics.

    Read bio…
  • Join @BostonFed for a webinar and Q&A for potential borrowers on Friday, May 29 at 11 am ET to learn more about the #FederalReserve’s Main Street Lending Program. Register: Link #MSLP info: Link https://t.co/giOcMJiTmu
    ClevelandFed Thu 28 May 2020 21:03

    This webinar is an opportunity for potential borrowers in the Main Street Lending Program to learn more about the program and ask questions to senior officials from the Federal Reserve. The Main Street Lending Program supports small and medium-sized U.S. businesses and their employees during this period of financial strain by giving these businesses access to additional credit. The program is intended to help companies that were in sound financial condition prior to the onset of the COVID-19 pandemic maintain operations and payroll until conditions normalize. Small and medium-sized businesses are integral to the U.S. economy and create jobs for a large share of the U.S. workforce.

    To allow as many potential borrowers to participate as possible, we ask each business to register no more than two representatives for the live session. A recording of the session will be available shortly after the call. We strongly encourage participants to use the...

  • As of May 24, the #COVID19 mortality rate of the US is 299 deaths per million people. This is almost triple that of Germany and just over half those of Italy and UK. Link https://t.co/jh7FH09uEC
    ClevelandFed Thu 28 May 2020 19:08

    Policy Economist

    Joel Elvery’s primary fields of interest are labor, public, and urban economics. He also specializes in applied econometrics, which involves studying economic models and using statistical trials to calculate future trends.

    Read bio…
  • The median federal funds rate coming from 7 simple #monetarypolicy rules and 3 #economic forecasts falls from -2.16 percent in 2020:Q2 to -14.09 percent in 2022:Q2, according to our latest update. Link https://t.co/mg89WY359C
    ClevelandFed Thu 28 May 2020 18:08
    In May 2020, the Congressional Budget Office (CBO) published selected 2-year and 10-year economic projections that did not include all of the series we use to update our simple monetary policy rules. As a result, the policy rules that rely on the CBO’s forecasts for the output gap have been omitted from the 2020:Q2 update.
  • The largest gains of #labormarket skills of foreign-born workers in the US appear to be concentrated in the immigrant population from Mexico. Read more here: Link
    ClevelandFed Thu 28 May 2020 17:48

    Various measures of the labor-market skills of foreign-born workers have improved during the past decade. The largest gains are concentrated among immigrants from Mexico, who traditionally have shown the lowest skill levels among foreign-born workers. The data suggest that the apparent increase in skills is the result of a shift in the distribution of immigrants coming to the United States, with increased immigration of workers from Asia and a precipitous decline in immigration of workers from Mexico.

  • Attention #Erie #funders: Join us on June 11th for #InvestmentConnection, a fast-paced event where #commdev orgs pitch projects likely to be #CRA-eligible. Learn more: Link https://t.co/To3sL3LUdf
    ClevelandFed Thu 28 May 2020 16:23
    As the COVID-19 situation continues to evolve, we remain diligent in our efforts to protect the safety and well-being of our employees and those we serve. We will conduct our events via webinar or virtual meeting as the situation warrants.
  • The shuttering of physical stores and reduced travel because of the #coronavirus pandemic kept sales weak for #retailers and hospitality establishments in the Fourth District. Reduced foot traffic also hamstrung auto and home #sales. #BeigeBook Link https://t.co/5NZuSRUrUK
    ClevelandFed Thu 28 May 2020 14:02

    The Beige Book, released 8 times a year, contains reports of economic conditions across the United States by region. Reports are based on information gathered primarily through interviews with business people and are prepared by each of the 12 Federal Reserve Banks for their respective Districts.

  • The Fourth District’s #economy deteriorated further in the current reporting period after it contracted sharply in the previous period. Firms across a broad range of sectors reported declines in customer #demand. #BeigeBook Link https://t.co/VTYxdIZEkm
    ClevelandFed Wed 27 May 2020 22:01

    The Beige Book, released 8 times a year, contains reports of economic conditions across the United States by region. Reports are based on information gathered primarily through interviews with business people and are prepared by each of the 12 Federal Reserve Banks for their respective Districts.

  • UPDATED: Cleveland Fed researcher looks at the #COVID19 epidemic trajectories in 24 countries. Read the full report here: Link https://t.co/sNjgy9t6Z9
    ClevelandFed Wed 27 May 2020 19:01

    Policy Economist

    Joel Elvery’s primary fields of interest are labor, public, and urban economics. He also specializes in applied econometrics, which involves studying economic models and using statistical trials to calculate future trends.

    Read bio…
  • UPDATED: Cleveland Fed’s real-time #Consumers and #COVID19 economic indicator Link https://t.co/miKA6xqFEw
    ClevelandFed Wed 27 May 2020 17:36
    Background: The Cleveland Fed has been maintaining a survey of consumers for their views on how they are responding to COVID-19, the illness caused by the novel coronavirus of late 2019, and how COVID-19 is likely to impact the economy. Description: We update the results from these surveys on a weekly basis.
  • Various measures of the #labormarket skills of foreign-born workers in the US have improved during the past decade, finds Cleveland Fed researcher. Read the findings here: Link
    ClevelandFed Wed 27 May 2020 14:51

    Various measures of the labor-market skills of foreign-born workers have improved during the past decade. The largest gains are concentrated among immigrants from Mexico, who traditionally have shown the lowest skill levels among foreign-born workers. The data suggest that the apparent increase in skills is the result of a shift in the distribution of immigrants coming to the United States, with increased immigration of workers from Asia and a precipitous decline in immigration of workers from Mexico.

  • Cleveland Fed researcher finds #labormarket skills of foreign-born workers have improved. Read the findings here: Link
    ClevelandFed Tue 26 May 2020 22:45

    Various measures of the labor-market skills of foreign-born workers have improved during the past decade. The largest gains are concentrated among immigrants from Mexico, who traditionally have shown the lowest skill levels among foreign-born workers. The data suggest that the apparent increase in skills is the result of a shift in the distribution of immigrants coming to the United States, with increased immigration of workers from Asia and a precipitous decline in immigration of workers from Mexico.

  • Growing up, Niki Ryan saw her grandfather come home dirty from his #manufacturing job, deterring her from that work. Today, she is an assembly specialist at @RBBSystems and has found the sector offers cleaner jobs and can provide #career growth. Link https://t.co/z0FYVCzRXC
    ClevelandFed Tue 26 May 2020 20:30

    Charles Newman would return home from work, his clothing so black that his wife washed it separate from the other laundry. His was a career forged building tires in Akron, Ohio, mostly for Goodyear. Niki Ryan, his granddaughter, and her cousin used to spend the night at Grandpa’s and Grandma’s, and Ryan remembers Grandma waking them in the wee hours of the morning to go pick Grandpa up. He worked a lot of third shifts. A lot of Saturdays. A lot of overtime. It was the late 1960s, and business boomed in what was then the rubber capital of the world.

    These are the memories Niki Ryan shares when she explains why she didn’t want a career in manufacturing. “My grandpa was in a shop that was dirty and yucky,” she begins. “He’d come home, and the first thing he had to do was take a shower. I didn’t want to be dirty every day.”

    When Ryan arrives home these days from the manufacturing job she’s worked for five years, she usually feeds the cat, makes dinner, and...

  • UPDATED: Cleveland Fed researcher looks at the #COVID19 epidemic trajectories in 24 countries. Read the full report here: Link https://t.co/4g42FcUbpk
    ClevelandFed Tue 26 May 2020 15:40

    Policy Economist

    Joel Elvery’s primary fields of interest are labor, public, and urban economics. He also specializes in applied econometrics, which involves studying economic models and using statistical trials to calculate future trends.

    Read bio…
  • Happy Lucky Penny Day! #DYK the first shipment of one cent coins was delivered by the @usmint in 1793? Find out more about the history of coins in the US: Link
    ClevelandFed Sat 23 May 2020 15:02

    The story of U.S. circulating coins began long before the opening of a national mint in 1792. Before national coinage, a mix of foreign and domestic coins circulated, both during the Colonial Period and in the years following the Revolutionary War. After Congress established the U.S. Mint in 1792, the Mint struggled for many years to produce enough coins. Finally, production numbers grew to meet the demands of a growing nation, providing some of the most beloved circulating coin designs.

    During the Colonial Period, a variety of coins circulated, including British pounds, German thalers, Spanish milled dollars, and even some coins produced by the colonies. Spanish milled dollars became a favorite because of the consistency of the silver content throughout the years. To make change for a dollar, people sometimes cut the coin into halves, quarters, eighths, and sixteenths to match the fractional denominations that were in short supply.

    After the Revolutionary War,...

  • The largest gains of #labormarket skills of foreign-born workers in the US appear to be concentrated in the immigrant population from Mexico. Read more here: Link
    ClevelandFed Fri 22 May 2020 21:32

    Various measures of the labor-market skills of foreign-born workers have improved during the past decade. The largest gains are concentrated among immigrants from Mexico, who traditionally have shown the lowest skill levels among foreign-born workers. The data suggest that the apparent increase in skills is the result of a shift in the distribution of immigrants coming to the United States, with increased immigration of workers from Asia and a precipitous decline in immigration of workers from Mexico.

  • The #coronavirus epidemic curve of the US peaked at a lower weekly change in the cumulative mortality rate than the curves of Italy, Spain, and the UK. However, the decline from the peak has been relatively small in the US. Link https://t.co/57Sk7jRveC
    ClevelandFed Fri 22 May 2020 20:07

    Policy Economist

    Joel Elvery’s primary fields of interest are labor, public, and urban economics. He also specializes in applied econometrics, which involves studying economic models and using statistical trials to calculate future trends.

    Read bio…
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