, OH
Cleveland was chosen as one of the country’s twelve Federal Reserve cities after a competitive selection process and opened its bank on November 16, 1914. The Federal Reserve Banks promote maximum employment and stable prices as part of the central banking system authorized by the 1913 Federal Reserve Act. Cleveland’s Bank serves the communities of the Fourth Federal Reserve District through supervision and regulation of financial institutions, analyzing and reporting on regional economic trends, and producing research on economic issues of importance to the nation and world. The first woman officer in any of the twelve banks was promoted to her role in 1956 by the Cleveland Fed. In 1982, the first woman in any of the nation’s Federal Reserve Banks served as the sixth President of the Federal Reserve Bank of Cleveland.