Federal Reserve Bank of Cleveland

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In a newly released working paper, researchers document an active secondary market for shares in syndicated term loans using confidential supervisory data. While most of the literature examines trades near origination, this paper is the first to study the secondary market throughout the life cycle of a syndicated term loan. See their findings: https://clefed.org/4l1FNHP

Meet Juan Cortes Jr., an IT support analyst with the Cleveland Fed who’s responsible for maintaining and troubleshooting hardware, software, and specialized systems such as records management and computer-aided dispatch for the Bank’s Law Enforcement Unit (LEU). He also ensures data security, provides user training, and assists with system integration to support the efficient operations of his department. We asked him a few questions to get a peek into his experience working at the Fed, including some of his most rewarding moments, plus his routines outside of work: --- What do you want other people to know about you? “I’m originally from San Diego, California. I moved to the Cincinnati area about eight years ago, and I currently live in northern Kentucky. I have been in law enforcement for most of my adult career. I have a wife and two highly energetic daughters. I also enjoy fishing, traveling, and surfing.” What gets you going in the morning? “I have a routine that starts with a cold shower, and since I take my oldest daughter to school every day, I make sure she is awake and getting ready for school. On my way to work, I listen to some good 90s rock music. This motivates me to have a positive mindset and remind myself that today can be a great day if I’m willing to make it one.” Where is the most exciting place you have traveled? “One of my most memorable traveling experiences was when I traveled to Europe in my early twenties. I backpacked through nine countries for about five months.” What do you find rewarding about your job? “One of the most rewarding aspects of my job is the opportunity to have a meaningful impact on others. When I first started in my role as an IT support analyst, I had the opportunity to learn extensively about the security-management systems LEU uses daily. That knowledge allowed me to better support our team’s operations and resolve system issues more efficiently. Over time, I’ve become more proficient in configuring access controls and troubleshooting security-related problems, and this has contributed to smoother daily operations. I enjoy knowing that my work contributes to a larger goal.” --- #FederalReserve #DayInTheLife #IT

Need an easy way to keep up with all the scholarly research being done across the Fed’s 12 Reserve banks? Subscribe to our monthly digest, Latest Working Papers from the Federal Reserve Banks: https://lnkd.in/eNiMGYKp ? Each edition delivers full-text links to new working papers organized by topic. The latest edition features 19 working papers from 49 authors on topics that include housing demand, the labor market and macro policy. ? #FederalReserve #Economics #Research?

New newsletter: ?? President Hammack’s speech maintains patient policy stance ?? What is stagflation? See this stop-motion video from our Center for Inflation Research ?? Registration now open for Policy Summit 2025 ?? Day in the life of Juan Cortes Jr., an IT support analyst for the Bank’s Law Enforcement Unit ? https://bit.ly/4iICNi0 #Stagflation #FederalReserve #PolicySummit2025

From 1980 through 2015, the share of clerical jobs in the employed labor force declined more significantly in large and expensive cities than in smaller cities. Moreover, the remaining workers performing these occupations in large and expensive cities had, on average, higher education levels and were more likely to perform tasks usually done by managerial and professional personnel when compared to their small-city counterparts. In this Economic Commentary, researchers show how these patterns are related to the uneven adoption of information communication technologies across geographies and discuss adoption’s impact on clerical jobs’ tasks and worker requirements: https://clefed.org/4iB9G07 #LaborMarket #FederalReserve #EconResearch

Julianne Dunn, Regional Executive at our Cincinnati Branch, recently gave an economic update to the Dayton Region Manufacturers Association. You can learn more about what our regional analysis team is hearing from manufacturers in the Fourth District by exploring our SORCE Indexes here: https://clefed.org/4jHY24x

Macroeconomic models without endogenous labor supply struggle to reconcile slow recoveries and missing disinflations after deep recessions. In this paper, researchers estimate a DSGE model with search & matching and financial frictions using the data on three margins of labor supply. See their findings: https://clefed.org/41MbBrg

The European Central Bank (ECB) and our Center for Inflation Research will host the Inflation: Drivers and Dynamics 2025 Conference on September 29-30 at the ECB. This annual conference brings together top researchers and policymakers from academia, central banks, and other policy institutions to present research findings related to inflation. Authors interested in presenting their inflation-related research at the conference can now submit their papers: https://clefed.org/4hlCyI7 Deadline for research submissions in April 30. #Inflation #InflationConference #InflationResearch

The Federal Reserve is the central bank of the United States. It performs five key functions that serve all Americans and promote the health and stability of the US economy and financial system. To learn more about who we are, visit: https://bit.ly/3Dh5Eub