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Register Dear Financial Services Committee Members, **Please note that the Financial Services committee meeting in June is CANCELLED.** Please join us in welcoming Ms. Sandra Pianalto, President and Chief Executive Officer, Federal Reserve Bank of Cleveland, who will speak on The Federal Reserve and the Financial Crisis at our Financial Services Committee meeting on July 12. DETAILS The Federal Reserve System responded creatively and decisively to the global financial crisis, taking unprecedented actions to stave off what could have escalated into a worldwide economic depression. Despite improving conditions over the past year, the recovery will be gradual and inflation is likely to remain subdued. Keeping in mind its dual mandate of price stability and maximum employment, the Federal Reserve stands ready to remove its policy accommodation and unwind its large balance sheet when the recovery becomes self-sustaining. This closed-door discussion provides an opportunity to hear President Pianalto’s perspective on this extraordinary time and on the actions taken by America’s central bank to address this global financial crisis. BIOGRAPHY As president and chief executive officer of the Federal Reserve Bank of Cleveland, Sandra Pianalto has both national and local leadership responsibilities. She participates in the formulation of U.S. monetary policy, and she oversees 1,300 employees in Cleveland, Cincinnati, and Pittsburgh who conduct economic research, supervise financial institutions, and provide payment services to commercial banks and the U.S. government. Ms. Pianalto’s tenure with the Bank spans 26 years. She joined the Bank in 1983 as an economist in the Research Department. She was appointed assistant vice president of public affairs in 1984, vice president and secretary to the board of directors in 1988, and first vice president and chief operating officer in 1993. She assumed her position as president in 2003. Before joining the Bank, Ms. Pianalto was an economist at the Federal Reserve Board of Governors and served on the staff of the Budget Committee of the U.S. House of Representatives. Ms. Pianalto is active in the Fourth District’s civic community. She is immediate past chair and a life director of the board of United Way of Greater Cleveland and is a member of the board of the Rock and Roll Hall of Fame and Museum. Ms. Pianalto earned a bachelor’s degree in economics from The University of Akron and a master’s degree in economics from The George Washington University. She is a graduate of the Advanced Management Program at Duke University’s Fuqua School of Business and holds honorary degrees from numerous universities. Looking forward to seeing you there, Kuresh Sarjan and Catherine Simmons Financial Services Committee Co-Chairs *Committee Roundtable Discussion is Strictly off the Record* MEMBERS ONLY NO WALK-INS. RSVP NEEDED
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