Federal Reserve Bank of Cleveland
Loretta J. Mester

Loretta J. Mester
President
Federal Reserve Bank of Cleveland

Loretta J. Mester took office on June 1, 2014, as the eleventh president and chief executive officer of the Fourth District Federal Reserve Bank, at Cleveland. In 2017, she serves as an alternate voting member of the Federal Open Market Committee.

Dr. Mester was born in Baltimore, MD. She graduated summa cum laude with a bachelor of arts degree in mathematics and economics from Barnard College of Columbia University. She earned M.A. and Ph.D. degrees in economics from Princeton University, where she was a National Science Foundation Fellow.

Prior to being named president and chief executive officer of the Federal Reserve Bank of Cleveland, Dr. Mester had been executive vice president and director of research at the Federal Reserve Bank of Philadelphia, where she was the chief policy advisor and oversaw the economists and analysts in the Research Department, as well as professionals in the Financial Statistics Department and the Payment Cards Center. She joined the Federal Reserve Bank of Philadelphia in 1985, becoming senior vice president and director of research in 2000.

Dr. Mester is an adjunct professor of finance at the Wharton School of the University of Pennsylvania and is a fellow at the Wharton Financial Institutions Center. She has also taught in the undergraduate finance and M.B.A. programs at Wharton and in the Ph.D. program in finance at New York University.

Her areas of research expertise include the organizational structure and productive efficiency of financial institutions, financial intermediation and regulation, agency problems in credit markets, credit card pricing, central bank governance, and inflation. She has published numerous articles on a variety of topics including economics, central banking, and financial issues. In addition, she is managing editor of the International Journal of Central Banking and co-editor of the Journal of Financial Services Research; and she is an associate editor of several other academic journals.

Dr. Mester is a director of the Greater Cleveland Partnership, a trustee of the Cleveland Clinic, a trustee of the Musical Arts Association (Cleveland Orchestra), a director of the Council for Economic Education, a founding director of the Financial Intermediation Research Society, and a member of the advisory board of the Financial Intermediation Network of European Studies (FINEST). She is a member of the American Economic Association, the American Finance Association, the Econometric Society, and the Financial Management Association International.

Bank Location

1455 East Sixth Street
Cleveland, OH 44114
(216) 579-2000
Visitor Information
Money Museum

Head office at Cleveland, Ohio.

Branch Banks at Cincinnati, Ohio, and Pittsburgh, Pennsylvania.

Covers the state of Ohio; 56 counties in eastern Kentucky; 19 counties in western Pennsylvania; and 6 counties in northern West Virginia .

Website: https://www.clevelandfed.org/

Cleveland district map

Branches

Cincinnati
150 East Fourth Street, Cincinnati, OH 45202
(513) 721-4787

Pittsburgh
One Oxford Centre, Suite 3000
301 Grant Street, Pittsburgh, PA 15219
P.O. Box 867, Pittsburgh, PA 15230
(412) 261-7800


List of Directors
Class A
Name Title Term expires
December 31
Todd A. Mason President and Chief Executive Officer
First National Bank of Pandora
Pandora, Ohio
2017
Claude E. Davis Chief Executive Officer
First Financial Bancorp
Cincinnati, Ohio
2018
Stephen D. Steinour Chairman, President, and Chief Executive Officer
Huntington Bancshares Incorporated
Columbus, Ohio
2019
Class B
Name Title Term expires
December 31
Charles H. Brown Vice President and Secretary
Toyota Motor Engineering & Manufacturing, North America
Erlanger, Kentucky
2017
George S. Barrett Chairman and Chief Executive Officer
Cardinal Health, Inc.
Dublin, Ohio
2018
David Megenhardt Executive Director
United Labor Agency
Cleveland, Ohio
2019
Class C
Name Title Term expires
December 31
John P. Surma
(Chair)
Retired Chairman and Chief Executive Officer
United States Steel Corporation
Pittsburgh, Pennsylvania
2017
Dawne S. Hickton
(Deputy Chair)
President and Founding Partner
Cumberland Highstreet Partners
Sewickley, Pennsylvania
2018
Dwight Eric Smith President and Chief Executive Officer
Sophisticated Systems, Inc.
Columbus, Ohio
2019


CINCINNATI BRANCH

Appointed by the Federal Reserve Bank:
Name Title Term expires
December 31
Alfonso Cornejo President
Hispanic Chamber Cincinnati USA
Cincinnati, Ohio
2017
Amos L. Otis Founder, President, and Chief Executive Officer
SoBran, Inc.
Dayton, Ohio
2017
Tucker Ballinger President and Chief Executive Officer
Forcht Bank, N.A.
Lexington, Kentucky
2018
Darin C. Hall Executive Vice President
Greater Cincinnati Redevelopment Authority
Cincinnati, Ohio
2019

 

Appointed by the Board of Governors:
Name Title Term expires
December 31
Deborah A. Feldman President and Chief Executive Officer
Dayton Children's Hospital
Dayton, Ohio
2017
Christopher C. Cole Chairman and General Manager
Intelligrated Inc.
Mason, Ohio
2018
Valarie L. Sheppard
(Chair)
Senior Vice President, Comptroller, and Treasurer
The Procter & Gamble Company
Cincinnati, Ohio
2019


 

PITTSBURGH BRANCH

Appointed by the Federal Reserve Bank:
Name Title Term expires
December 31
Audrey Dunning Senior Vice President
CGI Group
Pittsburgh, Pennsylvania
2017
Robert I. Glimcher President
Glimcher Group Inc.
Pittsburgh, Pennsylvania
2017
Dmitri D. Shiry Managing Partner
Deloitte LLP
Pittsburgh, Pennsylvania
2018
Shelley L. Fant President and Chief Executive Officer
FCG Solutions, Inc.
Pittsburgh, Pennsylvania
2019

 

Appointed by the Board of Governors
Name Title Term expires
December 31
Charles L. Hammel III President
PITT Ohio
Pittsburgh, Pennsylvania
2017
Stefani Pashman Chief Executive Officer
Partner4Work
Pittsburgh, Pennsylvania
2018
Doris Carson Williams
(Chair)
President and Chief Executive Officer
African American Chamber of Commerce, Western Pennsylvania
Pittsburgh, Pennsylvania
2019

 

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Last Update: October 02, 2017