Search Results
Periodic Essay
Reflections: Education
Today, I would like to share some reflections on education and the central role it plays in expanding economic inclusion and opportunity.
Periodic Essay
Reflections from Loretta J. Mester
I struggled with whether or not I should send out a message after the Atlanta attack. On the one hand, I believe such a heinous act requires condemnation and a public statement that I, and the institution I lead, are committed to championing diversity, equity, inclusion, and economic opportunity. It would be wrong to just look away. On the other hand, reacting only by going on record as being against atrocious acts like this feels too much like resigned acceptance that this is the way things are. Social responsibility requires us to act. The hard question is what can be done to reduce the ...
Periodic Essay
Reflections: Workforce Development
A message from President Mester about workforce development and the importance of ensuring that all people have the opportunity to develop the skills and knowledge needed in our rapidly changing economy.
Periodic Essay
Reflections: Place Matters
Today, I would like to share some reflections on place and why it matters when working toward expanding economic opportunity and inclusion. A body of research has shown that economic opportunity is tied not only to individual circumstances but also to place. Upward mobility – the probability that a child will be better off economically than his or her parents – is dependent not only on the family’s characteristics but also on neighborhood characteristics such as neighborhood income, the quality of schools, access to social services, and racial integration.
Periodic Essay
Reflections: Small Businesses
An enviable aspect of the U.S. economy around the globe is our spirit of innovation, entrepreneurship, ease of business entry and exit, and labor market flexibility. These are key attributes of a dynamic economy, one that offers opportunities for people to live good and productive lives. Entrepreneurship – setting up and running one’s own business – has always been part of the narrative of the American dream, an avenue to creating and growing wealth, contributing to the community, and leaving a legacy for one’s family.
Periodic Essay
Reflections: Now Is the Time to Close the Digital Divide
Even before the pandemic, digitalization was occurring at a rapid pace. Access to high-speed internet has become necessary for accomplishing many tasks of life, including accessing education, getting healthcare, searching for housing, applying for a job or searching for a new one, doing banking, buying goods, and renewing a driver’s license.
Journal Article
Some thoughts on the evolution of the banking system and the process of financial intermediation
The author discusses three areas she considers important in the evolution of the financial services industry: consolidation and the economies gained from it, governance issues that emerge as the structure of the banking industry changes, and the decline in the market share of banking. This decline in market share, she believes, may reflect a decline in demand for deposits rather than a decline in demand for relationship lending.
Conference Paper
Intermediation and vertical integration
Speech
The Federal Reserve and Monetary Policy Communications: The Tangri Lecture, Rutgers University, New Brunswick, NJ. 01/17/2018
This afternoon I will speak about the structure of the Federal Reserve System and the value of clear monetary policy communications. I?ll summarize some of the improvements the Fed has made to its communications, and then offer my recommendation for potential next steps. Of course, my remarks will reflect my own views and not necessarily those of the Federal Reserve System or my colleagues on the Federal Open Market Committee.
Speech
Perspectives on the Economic Outlook and Banking Supervision and Regulation; 2017-08-02; The Community Bankers Association of Ohio Annual Convention, Cincinnati, OH
Today, I enjoy the fruits of the strong relationship that has developed between Ohio bankers and the Cleveland Fed. The bankers who serve on our Community Depository Institutions Advisory Council (CDIAC) and on our board of directors generously provide me with their valuable insights into regional economic and banking conditions. As you all know, community banks play a vital role in the economic health of their communities, providing creditworthy businesses the wherewithal to prosper and households the ability to improve their financial standing and quality of life. Because of their important ...