Federal Reserve Bank of Cleveland’s Post

ALERT: Be aware of potentially fake online job postings that claim to be from the Federal Reserve. Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels. https://lnkd.in/g5RZwpJA

Our public group tours have open availability through the end of the year! 🏛 Don’t miss out on this opportunity for community and professional organizations to see one of Cleveland’s historic buildings. For more information or to request your group tour, visit: https://clefed.org/visit

In recognition of 9/11 National Day of Service and Remembrance, Cleveland Fed employees spent the day volunteering in Dayton, OH.

Small businesses are foundational to the growth and prosperity of local communities and a cornerstone of the American economy. According to the Fed’s “2024 Report on Employer Firms: Findings from the 2023 Small Business Credit Survey,” small businesses continue to face challenges including increased operating expenses, attracting and retaining qualified talent, and access to credit. Our next FedTalk will feature a discussion with Federal Reserve researchers and community leaders on current growth trends versus decline in small businesses, barriers to financing, talent strategies, and resources available to business owners. Register now for the discussion on September 26 from 3–4 pm ET: https://clefed.org/47mIRaU #FedTalk #FederalReserve #SmallBusiness #SmallBusinesses

Our Education and Learning Center is closed today, September 10th, due to construction outside of our entrance. Plan your next visit: clefed.org/visit

Our Education and Learning Center is closed for the rest of today, September 9th, due to construction outside of our entrance. Plan your next visit: clefed.org/visit

Calling all Ohio elementary and middle school educators: the Cleveland Fed has new financial literacy curriculum guides! The resources, lessons, and activities in this guide are aligned with Ohio’s elementary and middle school “Model Financial Literacy Curriculum.” Explore the suggested resources and see if its right for your classroom: https://clefed.org/3KKNIJ9 #FinancialLiteracy #Teachers #TeachersofLinkedIn #Education #FinLit #OhioTeachers

The Beige Book is now live. Read these Fourth District key findings and more: https://clefed.org/3ih7pZx

📢 Just released: “Those Who Need It Can’t Afford It” How Childcare Challenges are Curbing Economic Opportunity. Our new multimedia piece explores the impact childcare has on the American economy through photography, data visualizations, and stories from parents, researchers, childcare workers, workforce development practitioners, and city and state policymakers. Read their firsthand stories, available now: https://clefed.org/3TgwmrD #Childcare #AffordableChildcare #FederalReserve #Workforce #Economy

Many small businesses turned to assistance from the government to weather the most challenging days of the COVID-19 pandemic following its onset in March 2020. One of the largest government programs administered through the US Small Business Administration (SBA) was the COVID-19 Economic Injury Disaster Loan (EIDL) program, which provided $380 billion in loans to small businesses. The loans provided support to small businesses that struggled to survive through the pandemic, but many firms that survived the pandemic with outstanding EIDL loans have elevated amounts of outstanding debt and are in more precarious financial condition than firms without outstanding EIDL loans. Data from the Federal Reserve’s Small Business Credit Survey (SBCS) show that, compared to firms without EIDL loans, firms with outstanding EIDL balances in 2023 were more likely to experience challenges making payments on debt in the year leading up to the survey and were less likely to be profitable. See additional findings and the breakdown in a new report, available now: https://lnkd.in/eJFk2VgT