Federal Reserve Bank of Cleveland
Cleveland Fed’s Mester lays out ‘considerable progress’ on payment systems initiative
Loretta Mester tells New York conference of progress in appointing leaders and accumulating members for faster payments and secure payments task forces
Models using service inflation better at predicting economic trends, Cleveland Fed paper finds
Researchers find economic forecasting accuracy improves when based on models that tie together the unemployment rate with inflation in services
Stress indexes have widely varying signal benefits, Fed paper says
Cleveland’s index gives the best picture of current financial stress conditions, but few indexes have value in predicting future problems, Cleveland Fed study says
Cleveland Fed economists cautious over use of Taylor rule
Research emphasises the difficulty in measuring potential output and the natural rate of unemployment accurately and urges policy-makers to ‘take care’ when using the rule
Mester wants new models to get to grips with policy nexus
Cleveland Fed president sets out the kind of structural general equilibrium models needed to help understand interactions between monetary and macro-prudential policy
Fed’s Mester calls for more work on monetary policy and financial stability nexus
Loretta Mester sets out three priorities for research on the consumer credit markets in the United States at conference in Philadelphia
Cleveland Fed’s Mester sees guidance as 'comms device'
Loretta Mester believes the Fed should stop using forward guidance as a policy tool when economic conditions have normalised and stick to setting out its reaction function
People: Dallas Fed names interim president; Ukraine adds deputy governor
Helen Holcomb holds the fort at Dallas Fed after Richard Fisher retires; National Bank of Ukraine appoints another acting deputy governor; Cleveland Fed names new research head; and more
Cleveland Fed researchers examine Taylor rules followed by professional forecasters
Research examines the relationship between private forecasters’ projections for inflation, unemployment and the federal funds rate; finds ‘tremendous’ differences
Cleveland Fed president sees forward guidance evolving in normal times
Loretta Mester suggests it will focus less on when policy will be changed and ‘more on the rationale for policy decisions’; sees FOMC summary of economic projections playing ‘central role’
New face for FOMC as Cleveland Fed pick Pianalto replacement
Mester, head of research at Philadelphia Fed, will take over on June 1; will contribute insights on financial stability effects of monetary policy to FOMC, says Don Kohn
Pianalto confident housing market on road to recovery
It was the housing market that ‘got us into this situation', Cleveland Fed president says - but nevertheless a recovery in the overall economy will translate through to a housing rebound
People: Barclays economist returns to BoE; Cleveland steps up search for Pianalto replacement
Bank of England hires Simon Hayes from Barclays to replace Robert Wood in charge of MPC economic forecasts, reporting to Spencer Dale; Cleveland Fed hires search firm to find new president
Fed's Fisher slams ‘fiscal misfeasance’ of US government
Dallas Fed president urges American politicians to show some leadership and put the US on a more sustainable fiscal path; Cleveland Fed researchers say shutdown will damage inflation estimates
Pianalto confident in case for faster retail payments
Cleveland Fed president Sandra Pianalto says the lack of 'concrete' evidence in favour of a near-real-time payment system should not stand in the way of its creation
People: Bank of Finland appoints head of monetary policy; Cleveland branch gets new vice-president
Tuomas Välimäki is Bank of Finland's new head of monetary policy and research; Guhan Venkatu takes over from Robert Schaub as president of Cleveland Fed's Pittsburgh branch; and more
Sandra Pianalto to retire next year
Cleveland Fed president Pianalto calls time on a 30-year career at the bank; successor will sit on the FOMC in 2014
Cleveland Fed’s Pianalto signals willingness to taper
Sandra Pianalto recognises ‘meaningful improvement’ in labour market conditions and outlook; prepared to scale back asset purchases if current pace of progress is maintained
Pianalto says financial regulation should learn from monetary policy transparency
Financial regulation can benefit in the same way as monetary policy has from transparency and forward guidance, says Cleveland Fed president Sandra Pianalto
Cleveland paper trumpets value of median CPI in forecasting
Research says median CPI – a ‘trimmed’ measure of inflation – can improve the accuracy of forecasts involving a range of macroeconomic variables
Fed paper assesses impact of government funding on loan provision
Study by Cleveland Fed examines a US scheme designed to boost lending to low-income but high-quality borrowers
US reform could slash $150bn payments bill, says Fed’s Pianalto
Cleveland Fed president Sandra Pianalto explains the Fed’s vision of how the US payments system will operate in a decade; says UK offers valuable lesson on speed
Cleveland Fed researchers suggest moderate growth may persist
‘Economic Trends’ research highlights possibility of a slowdown in US trend rate of growth; economy shows modest version of previous recoveries
Cleveland Fed researchers find fault with BoE’s Funding for Lending
‘Economic Trends’ research from the Federal Reserve Bank of Cleveland identifies possible flaws in the Bank of England’s Funding for Lending Scheme; warns of risk to independence