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Speech
A Fourth District Groundhog in London’s Financial District
Not far from Pittsburgh in the Fourth District is Punxsutawney, Pennsylvania, famous for its annual Groundhog Day celebration. Lately, I’ve been feeling a bit like Bill Murray’s character in the movie Groundhog Day. For Phil Connors—Bill Murray’s character—every day begins with his alarm going off to the song “I Got You Babe,” Ned Ryerson inevitably tries to sell him life insurance, a blizzard forces him to spend the night, and he wakes up, once again, on February 2nd. Now, if you’re a frequent follower of Fed commentary, you, too, may begin to experience a sort of déjà vu. ...
Speech
Community Development: Paying It Forward
The Policy Summit has a long history of bringing together community development practitioners, researchers, and community leaders with diverse perspectives to share best practices. An aim of this conference is that you will bring the information and solutions you gain here back to your home communities. It’s like the movie Pay It Forward: If each person shares what they’ve learned with three people, and those people share with three more and so on, the knowledge on how to build strong and sustainable communities will spread far beyond this ballroom.
Speech
The Cleveland Fed’s Excellent Community Development Adventure
President Hammack gave keynote remarks at the Cuyahoga County Community College’s Corporate College 20-Year Anniversary Celebration in Warrensville Hts., OH on July 16, 2025 at 9:15 AM EDT. President Hammack discussed the Cleveland Fed's community development efforts, including community engagement, workforce development, the Occupational Mobility Explorer, and the Small Business Credit Survey.
Speech
Balancing Act: The Dual Mandate on an Economic Tightrope
Speaking at the Economic Club of New York, President Hammack discussed the dual mandate as a balancing act: The concept of balance is at the heart of the FOMC’s Statement on Longer Run Goals and Monetary Policy Strategy. In the most recent update to the statement, the Committee said that it would follow a balanced approach to promoting its goals during times when the objectives are not complementary—which is a fair characterization of today’s situation, with both inflation and employment under pressure. We need to assess how much and for how long we are missing on each side of the ...
Speech
Opening Remarks at the 2025 Financial Stability Conference: Financial Stability in a Time of Rapid Economic and Technological Change
After 13 years, this series has proven its value as the place to be for financial stability researchers, regulators, and practitioners. It was created at a time when the Global Financial Crisis was still fresh in our minds. Since then, many of you have contributed to a growing body of work identifying new vulnerabilities in the financial system and developing tools to counteract shocks that come our way. The pandemic shock—and the Fed’s robust and effective response—was a sharp reminder that when it comes to financial stability, you can never let your guard down. The Fed has a strong ...
Speech
Recipe for a Thriving US Economy: Strong Banks, Patient Policy, and an Independent yet Accountable Central Bank
President Hammack spoke at the Ohio Bankers League’s 2026 Economic Summit in Columbus, Ohio on February 10, 2026, discussing banking, monetary policy, and the outlook for the economy.
Speech
Remarks for the Panel: On the Safe-Haven Status of the Dollar
President Hammack delivered remarks for a panel "On the Safe-Haven Status of the Dollar" at the 2026 US Monetary Policy Forum on March 6, 2026, at 1:30 PM EST. The Forum was held at the Kent A. Clark Center for Global Markets, University of Chicago Booth School of Business, New York, NY.
Speech
It Takes Two to Make an Economy Go Right
A conversation with President Beth Hammack held at the City Club of Cleveland, Cleveland, Ohio on Tuesday, June 2, 2026.