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Person
Matt Klesta
Senior Policy Analyst
Department
Community Development
Matt Klesta is a Senior Policy Analyst in the Community Development Department at the Federal Reserve Bank of Cleveland. His work focuses on a range of issues affecting low- to moderate-income communities, with a special focus on rural communities.
Mr. Klesta joined the Cleveland Reserve Bank in 2007.
He earned a bachelor’s degree in urban affairs and an MA in public administration from Cleveland State University. Outside the bank, he enjoys backpacking in out-of-the-way places and hopes one day to see Cleveland as the thriving metropolis it once was.
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Working Papers
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Working Paper
Low-Income-Rental-Housing Programs in the Fourth District
08.30.2013 | WP 13-11In the aftermath of the Great Recession, many policy analysts are rethinking national housing policies, including affordable housing programs.
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Community Issues and Insights
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Community Issues and Insights
Community Issues and Insights 2024: A Record-High Share of Respondents Observed a Decline in Affordable Housing
05.10.2024Respondents’ top concerns were rising rents, the shortage of affordable housing, and the continued impact of inflation on households’ budgets. -
Community Issues and Insights
Inflation Remains a Burden and Consumer Debt is on the Rise
05.23.2023 | Spring 2023Top concerns for this survey’s respondents include the lack of affordable housing, continued impacts of inflation on household budgets, and the impact from the ending of expanded SNAP benefits. -
Community Issues and Insights
Inflation Adds Burden and Tight Job Market Presents Challenges
05.19.2022 | Spring 2022In March 2022, we surveyed more than 500 service providers who directly serve LMI individuals and communities across our District. The results of this survey provide insights into how organizations and the households they serve are faring as they continue to navigate effects from the COVID-19 pandemic and the growing impact of inflation. -
Community Issues and Insights
Community Issues and Insights 2016
03.31.2016 | Spring 2016Fourth District community leaders find the most significant challenges facing their communities aren’t much changed from last year’s, including job, housing, and state financing issues. -
Community Issues and Insights
Education Joins the Ranks of Top Concerns Facing Communities
05.09.2014 | Spring 2014In the fifth administering of the Federal Reserve Bank of Cleveland’s community issues survey, we received responses from 184 stakeholders across the Fourth District.
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Community Development Reports
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Community Development Reports
Home Lending Trends from Select Counties in Kentucky, Ohio, and Pennsylvania: 2018–2022
04.18.2024This series of reports examines home mortgages and refinances from 2018 through 2022 for seven large counties in Kentucky, Ohio, and Pennsylvania. -
Community Development Reports
Resilience and Recovery: Insights from the July 2022 Eastern Kentucky Flood
09.27.2023Eastern Kentucky has a long history of flooding. This report focuses on housing in the 13 counties declared federal disaster areas after the July 2022 flood. -
Community Development Reports
Home Mortgage Lending by Race and Income in a Time of Low Interest Rates: Examples from Select Counties in Kentucky, Ohio, and Pennsylvania from 2018 through 2021
11.29.2022Several years ago, the Cleveland Fed examined data for seven large urban counties in our region. At that time, we looked at how these counties performed post-Great Recession. In this report, we revisit those seven counties and examine how they performed during the COVID-19 pandemic and in an environment of record-low interest rates. -
Community Development Reports
Rural Employment in Four States: A Story of Specialization and Change (2010 through 2019)
05.27.2021Is specializing in an industry the way to economic success or the road to economic challenges for rural communities? It depends on the community’s resilience. -
Community Development Reports
Connectivity Is Critical: What We Learned From Three Rural Counties
09.30.2019No county is without challenges, but those in rural areas face a unique set of difficulties. Studying three of our region’s most economically challenged counties revealed that being connected—in a variety of ways—is crucial for success. -
Community Development Reports
Home Lending in Franklin County Neighborhoods
05.14.2018Focusing on Franklin County, Ohio, home to the city of Columbus, our researchers examined application and origination activity during the 27-year period from 1990 to 2016 and dove into trends during the 13-year period from 2004 to 2016. Using maps and a series of figures and tables, we tell the story of mortgage lending during these periods from both the neighborhood and borrower perspectives. -
Community Development Reports
Home Lending in Fayette County Neighborhoods
02.28.2018Focusing on Fayette County, Kentucky, home to the city of Lexington, this report takes a broad look at application and origination activity during the 26-year period from 1990 to 2016 and delves into trends during the 13-year period from 2004 to 2016. Using maps and a series of figures and tables, we tell the story of mortgage lending during these periods from both the neighborhood and borrower perspectives. -
Community Development Reports
Home Lending in Allegheny County Neighborhoods
07.13.2017We begin this report on Allegheny County, home to the city of Pittsburgh, with a broad look at application and origination activity during the 25-year period from 1990 to 2015, and then focus on the 12-year period from 2004 to 2015. -
Community Development Reports
Home Lending in Cuyahoga County Neighborhoods
07.13.2017We begin our report on Cuyahoga County, home to the city of Cleveland, with a broad look at application and origination activity during the 25-year period from 1990 to 2015, and then focus on the 12-year period from 2004 to 2015. -
Community Development Reports
Addressing Employment Needs through Sector Partnerships: Case studies from across the Federal Reserve's Fourth District
08.15.2016This special report examines multiple sector-based partnerships addressing the job-skills mismatch facing employers in the Fourth District. Spanning various industries, including healthcare, IT, advanced manufacturing, marine mechanics, and coal mining, these initiatives differ in fundamental ways. But all emphasize collaboration between employers and economic and educational organizations. Overall, such partnerships appear to be working for both employers and workers, with evaluations identifying increased wages, reduced turnover, and increased productivity. -
Community Development Reports
Employment Trends in Two Sectors Show a Region in Transition
09.23.2014In this data brief, we examine trends in population and private employment in 17 metropolitan statistical areas (MSAs) in the Fourth District. -
Community Development Reports
Mortgage Lending Patterns in Fourth District Communities as of June 2013
06.05.2013The focus of this issue is trends in underwater loans, home prices, and refinancing rates in Ohio and Pennsylvania. -
Community Development Reports
Mortgage Lending Patterns in Fourth District Communities as of June 2012
10.17.2012With the "foreclosure pipeline" still quite full, REO sales remain the most common exit for distressed loans in all Fourth District states. Shares are steady in West Virginia and Pennsylvania; Kentucky and Ohio. -
Community Development Reports
Mortgage Lending Patterns in Fourth District Communities as of December 2011
04.03.2012This edition finds that compared to a year ago many counties in Ohio and West Virginia have seen decreases in both delinquency and foreclosure rates, while counties in Kentucky and Pennsylvania have seen increases in both. -
Community Development Reports
Rental housing patterns in Cuyahoga County, Ohio
03.12.2012Traditionally, renting has served as a stepping-stone to homeownership as well as an alternative for those seeking flexibility and more affordable places to live. -
Community Development Reports
Manufacturing and Pollution: Trends in Old and New Industrial Centers
11.07.2011Less than 60 years ago, the states adjoining the Great Lakes led the nation in making things. -
Community Development Reports
Mortgage Lending Patterns in Fourth District Communities as of August 2011
11.01.2011For this edition of our data brief, we look at how loans are faring 12 months after they enter foreclosure, and compare results from two time periods. -
Community Development Reports
Mortgage Lending Patterns in Fourth District Communities as of May 2011
08.09.2011Housing markets are still struggling. The latest edition of Mortgage Lending Patterns takes a regional look at housing conditions in the Fourth District. -
Community Development Reports
Mortgage Lending Patterns in Fourth District Communities as of December 2010
03.01.2011The 8th edition of the data brief finds that the glut of loans greater than 90 days delinquent is subsiding from its high in early 2010 as they naturally progress into foreclosure. -
Community Development Reports
Mortgage Lending Patterns in Fourth District Communities as of July 2010
09.20.2010Troubling trends remain in this edition of the data brief. While the percent of loans at least 60 days delinquent has decreased, these loans appear to be flowing into foreclosure, which is ticking up. -
Community Development Reports
Mortgage Lending Patterns in Fourth District Communities as of April 2010
06.30.2010Over the last four years, FHA-insured loans increased as a share of all loans by 29 percentage points from 8.2% to 37.3%. Given their popularity, how have these mortgages performed? -
Community Development Reports
Mortgage Lending Patterns in Fourth District Communities as of December 2009
02.25.2010Typically thought of as the better-performing relative of subprime loans, prime loans have suffered from increasing delinquency rates as unemployment rates remain high. -
Community Development Reports
Mortgage Lending Patterns in Fourth District Communities as of October 2009
12.14.2009This edition focuses on trends in real estate owned properties (REO) and foreclosures rates. -
Community Development Reports
Hidden Counties: Rural Appalachia in the Fourth District States
10.30.2009Although not directly affected by the boom and bust of the housing market, Appalachia, and more specifically rural Appalachia, might be fighting the current recession’s aftershocks for quite some time. -
Community Development Reports
Mortgage Lending Patterns in Fourth District Communities as of July 2009
09.18.2009The third installment in the series examines recent trends in delinquency rates for both prime and subprime loans in 4th District states. -
Community Development Reports
Mortgage Lending Patterns in Fourth District Communities as of March 2009
06.22.2009The second installment in the series takes a look at how loans were performing in March 2009. -
Community Development Reports
Mortgage Lending Patterns in Fourth District Communities as of March 2009
03.10.2009In response to constituents’ requests for data, the Community Development team has developed a new format to provide periodic snapshots of mortgage lending and foreclosure patterns in the 4th District at the county level.
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Notes from the Field
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Notes from the Field
“Below the Surface You Still See It”: The Eastern Kentucky Flood, Two Years Later
07.17.2024Two years after eastern Kentucky was devastated by a historic flood, the region has made progress in rebuilding. However, signs of the flood remain, and the region still faces various challenges on the road to a full recovery. -
Notes from the Field
Cooperating at the Tri-State Shale Summit
11.12.2015States typically compete for jobs and investment; this event was different. Find out how. -
Notes from the Field
A Behind-the-Scenes Look at Economic Development
09.02.2015Creating a long-term regional strategy is an essential piece of any economic development plan.
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Forefront
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Forefront
As Branches Decline, How Do Bankers Continue to Comply with the CRA?
01.11.2017 | Winter 2016 - 2017, Vol. 7, No. 4Increased digital services show that recent regulatory guidelines do not prevent bank branches from complying with the Community Reinvestment Act. -
Forefront
Change is Afoot in Eastern Kentucky
Bonnie S. Blankenship Joel A. Elvery Tasia M. Hane Matt Klesta Michelle Park Lazette Anne O’Shaughnessy Guhan Venkatu Ann Marie Wiersch07.31.2016 | Summer 2016, Vol. 7, No. 2Appalshop—a media, arts, and education center, seeks to preserve the rich cultural history and heritage of Appalachia. -
Forefront
State of Employment: Are Fourth District Labor Markets Tight?
Bonnie S. Blankenship Tasia M. Hane Jessica Ice Matt Klesta Michelle Park Lazette Karen Malec April McClellan-Copeland Christopher Vecchio Guhan Venkatu04.17.2016 | Spring 2016, Vol. 7, No. 1The unemployment rate is the primary indicator of the tightness of the labor market and in the Fourth District, the labor market tightness varies. -
Forefront
Deep Wells Deep Pockets and Deep Impact
03.10.2015 | Web ExclusiveThe shale gas industry brings both costs and benefits to the communities it pervades. But thought must be given, and plans should be laid, for when the industry leaves town. -
Forefront
The Things Our Neighbors Care About
10.20.2014 | Fall 2014, Vol. 5, No. 2Cleveland Fed research researchers also study matters that are common to everyday life such as the well-being of neighborhoods, household debt, and retirement security.
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