The part of the Federal Reserve's work most visible to the American public is our role circulating cash throughout the economy, both paper money and coin.
Did you know? “Paper money” is actually 75% cotton and 25% linen. Learn more about cash: https://clefed.org/40qbTDX
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🏛️ We're proud to serve YOU—the people of the Fourth District. As the Cleveland Fed, we work every day to support a strong and resilient economy for all. Learn more about how we serve our region on our new homepage: clevelandfed.org
“Soft Skills with a Side of Cheese Curds”
What's behind a reported drop in soft skills of job applicants? Some point to technology, social media, and the pandemic as possible culprits. Read (or listen to!) Chapter 2 of our latest storytelling: https://clefed.org/41x3pM7
On balance, contacts reported that business activity in the Fourth District increased modestly in recent weeks, with continued modest growth expected in the months ahead. #BeigeBook clefed.org/3ih7pZx
“Amplifying Voices with the Small Business Credit Survey. Wednesday, April 15, 2026, 3-4 pm ET”
TODAY at 3 pm ET: a Fed Talk discussion on how small businesses are performing based off of data from the most recent Small Business Credit Survey. Join us: https://clefed.org/4v0rpVp
Results from our Survey of Regional Conditions and Expectations provide insight into how businesses are utilizing artificial intelligence. See our latest District Data Brief for details: https://clefed.org/3OCsget
“State of Small Business Symposium”
📅Save the date! Join us June 24–25 in Cleveland for the State of Small Business Symposium. Perfect for small business support orgs, lenders, program administrators, and local government staff. Seats are limited—check out the details and register: https://cvent.me/4oDkwd
A new report explores how #CDFIs (mission-driven lenders) support low- and moderate-income communities—providing not only investment, but also technical assistance, capacity building, financial coaching, and more: https://clefed.org/3Qlo5Eg
Our research has revealed a pattern: Prices for goods tend to rise more in January than November or December, even after seasonal adjustments. This latest Research [in] Brief breaks down why: https://clefed.org/4dvXnT3
Bank "bunching" is when banks keep their assets just below key regulatory thresholds to avoid stricter (and costlier) rules. A 2019 framework reduced bunching of banks at $50B. See the results : https://clefed.org/3PX0qtT
Check out the next generation of economists! Our Economic Scholars Program–where undergraduate students present their research and receive real-time feedback–will be streamed live Friday. Watch from anywhere: https://clefed.org/esp #ESP2026
The Cleveland Fed's latest estimate of 10-year expected #inflation is 2.4%. clefed.org/IE
Median #CPI rose 0.2% in March and 2.7% on a year-over-year basis. See our latest median #CPI and trimmed mean #CPI updates: clefed.org/CPI
Our #CPI indicator updates tomorrow. The Cleveland Fed’s #inflation nowcasting model (updated daily!) predicts year-over-year CPI #inflation of 3.25% in March. Check it out: clefed.org/3yCkTHV
The Cleveland Fed’s median PCE #inflation rate was 0.2% in February and 2.8% on a year-over-year basis. Latest update: http://clefed.org/PCE
Monthly #PCE inflation data will be released tomorrow. Our #inflation nowcasting model (updated daily!) predicts year-over-year PCE #inflation of 2.67% for February. Check it out: clefed.org/3yCkTHV
“What are “Well-Anchored” Inflation Expectations?”
What people THINK inflation will be can CAUSE it to happen. 🧠 When consumers and businesses expect higher inflation and act on those expectations, actual inflation can rise. This is why inflation expectations are so important to central banks. Details: https://clefed.org/4roe6uQ
Our Education and Learning Center is closed today and tomorrow.
We will reopen next week during our normal hours.
Plan your visit: https://www.clevelandfed.org/about-us/visit-us
Trade and geopolitical developments in 2025 raised concerns about a weakening in the “anchoring” of inflation expectations. Our latest Research [in] Brief breaks down the findings: https://clefed.org/4bQj3a7
"Why does a dairy farm now train 300 employees a year on soft skills?”
Cleveland Fed research found that social and soft skills are most in demand by employers. But sources also say today’s job candidates often lack these soft skills. Our upcoming multimedia series explores the gap. Sign up to receive all three chapters. ➡️ https://clefed.org/4bJZLTz
The Survey of Regional Conditions and Expectations (SORCE) total business conditions diffusion index increased by 3 points to 23, while the total expected conditions diffusion index remained unchanged at 29. These results were calculated from the 3.19–3.26 survey. https://clefed.org/4uVBkLI
Cost-Push Inflation Graph
Production costs surge → Producers raise prices = Inflation rises, even when demand stays flat. This is cost-push inflation. Examples: oil shocks, labor shortages, the pandemic shutdown. See the breakdown: https://clefed.org/4roe6uQ
“Amplifying Voices with the Small Business Credit Survey. Wednesday, April 15, 2026, 3-4 pm ET”
📊Discover what thousands of business owners revealed about credit access, recent challenges, and AI adoption in the new Small Business Credit Survey report. The researchers behind the survey will discuss those findings and more in our next Fed Talk. Register now: https://clefed.org/4v0rpVp
Trade and geopolitical developments in 2025 raised concerns about a weakening in the “anchoring” of inflation expectations. Our latest Research [in] Brief breaks down the findings: https://clefed.org/4bQj3a7
“Day in the Life. Meet Josh Hancher.”
From navigating the start of his career in the 2008 crisis to leading capital management in NYC, Josh Hancher has seen banking from every angle. Now he's brought his expertise back home to Cleveland as a bank examiner. See more about Josh: https://bit.ly/4btExdU
“Use of Artificial Intelligence at the time of Survey.”
Just under half of small employer businesses surveyed through mid-November 2025 reported using artificial intelligence, according to the Federal Reserve Banks’ Small Business Credit Survey. A majority of those reported increased productivity because of AI. https://clefed.org/4cT6k8v
💡 Demand-pull inflation 101: When consumers, businesses, or governments increase spending, producers respond by raising prices. Like a popular artist announcing a limited tour, they can only sell so many tickets and the demand is high. Learn more: https://clefed.org/4roe6uQ
What causes inflation? It comes down to 3 factors: demand, supply, and expectations. When one or more shifts, it impacts inflation. Inflation Explained breaks it down: https://clefed.org/4roe6uQ
Place matters. Join us for the 2026 Federal Reserve Community Development Research Seminar Series to learn how research and effective strategies can strengthen local economies. Save the date & register for the series: https://bit.ly/4slxmdv
“College Degrees & the Labor Market: Long-Run Trends & Recent Challenges for Young Graduates”
TODAY at 12 pm ET: a Fed Talk discussion on how labor market dynamics have changed over recent decades and the new hurdles facing young college graduates. Join us: https://clefed.org/4l6hwAO