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