Cleveland Fed names two locals to branch board

The Fed Bank in Cleveland also named directors to its Pittsburgh branch.

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Each Federal Reserve bank’s main office has a nine-member board of directors. Each Federal Reserve bank branch also has a five- or seven-member board of directors whose members offer input on local business conditions and their respective industries.

They also help to identify opportunities that connect the Federal Reserve to the general public, the Cleveland Fed said.

The Federal Reserve Bank of Cleveland is one of 12 regional reserve banks that with the Board of Governors in Washington comprise the Federal Reserve System.

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Part of the U.S. central bank, the Cleveland Fed participates in the formulation of our nation’s monetary policy, supervises banking organizations, provides payment and other services.