Federal Reserve Bank of Cleveland

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Federal Reserve Bank of Cleveland
FedClevelandlogo.jpg
Founded 1914
Headquarters Cleveland, Ohio
Web site http://www.clevelandfed.org/

The Federal Reserve Bank of Cleveland was established in 1914 as a part of the Federal Reserve System, the central bank of the United States. The Bank’s main office took up residence in its current home in the heart of downtown Cleveland in 1923.

The Federal Reserve Bank of Cleveland serves the Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. It is one of twelve regional Reserve Banks that, together with the Board of Governors in Washington, D.C, make up the Federal Reserve System. The Bank has offices in Cleveland, Cincinnati and Pittsburgh.[1]

Sandra Pianalto took office on Feb. 1, 2003, as the tenth chief executive of the Fourth District Federal Reserve Bank of Cleveland.[2]

History

The Cleveland Fed began operating in 1914 and opened its current headquarters in 1923.

Elvadore R. Fancher, the first governor, now called president and CEO of the Cleveland Federal Reserve bank, served from November 2, 1914 to January 16, 1935. He was involved in the planning and erection of the Federal Reserve Bank of Cleveland building.

The second governor-president was Matthew J. Fleming, who served from January 19, 1935 to September 15, 1944.

Ray M. Gidney was the third president from November 1, 1944 to April 16, 1953.

Wilbur D. Fulton was the fourth president, from, May 14, 1953 to April 30, 1963, and was the first native Clevelander to head the Bank.

W. Braddock Hickman served as president from May 1, 1963 to November 28, 1970.

Willis J. Winn served as president from September 1, 1971 to April 30, 1982.

Karen N. Horn was the first woman to serve as president of a Federal Reserve Bank, doing so from May 1, 1982 to April 8, 1987.

W. Lee Hoskins was president from October 8, 1987 to November 15, 1991.

Jerry L. Jordan was president from March 1992 to January 31, 2003.

Sandra Pianalto was the second woman to serve as Cleveland Fed president and did so from February 1, 2003 to May 31, 2014.

Loretta J. Mester is the current president and CEO and assumed the role in June of 2014.

Past presidents 817x210h.jpg

Products and Services

Membership

Key People

  • Loretta J. Mester - President and CEO
  • Greg Stefani - First Vice President and COO

References

  1. About the Federal Reserve Bank of Cleveland. FRB Cleveland.
  2. Board of Governors of the Federal Reserve. Federal Reserve.