Federal Reserve Bank of Cleveland facts for kids
Federal Reserve Seal
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Headquarters
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| Headquarters | E. 6th St. and Superior Ave. Cleveland, Ohio, USA |
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| Established | May 18, 1914 |
| President | Loretta Mester |
| Central bank of |
Fourth District
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| Website | www.ClevelandFed.org |
| The Federal Reserve Bank of Cleveland is one of 12 regional banks that make up the Federal Reserve System | |
The Federal Reserve Bank of Cleveland is a very important building in Cleveland, Ohio. It is the main office for the Fourth District of the U.S. Federal Reserve System. The Federal Reserve System is like the central bank of the United States. It helps keep our money safe and the economy stable.
The Fourth District includes all of Ohio, western Pennsylvania, eastern Kentucky, and the northern part of West Virginia. The Cleveland Fed also has smaller offices in Cincinnati and Pittsburgh. The current leader of the bank is Loretta Mester.
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Exploring the Cleveland Fed Building
The main building of the Federal Reserve Bank of Cleveland is a tall, 13-story building. It is located in downtown Cleveland. The building was finished in 1923. It was designed to look like an old Italian palace, using beautiful pink marble on the outside.
In 1998, a new part was added to the building. This addition helped with handling checks and cash. The building is so special that it is listed on the National Register of Historic Places. This means it is an important historical site.
Art and Security at the Bank
You can see amazing sculptures at the bank's entrances. These sculptures were made by Henry Hering. They represent important ideas like Security, Integrity, and Energy. They remind everyone about the bank's important role.
The bank also used to have the largest bank vault door in the world! This huge door weighed 100 tons (about 90,700 kg). The hinge alone weighed over 47 tons (about 42,600 kg) and was 19 feet (about 5.8 meters) tall. Even though the vault is not used anymore, it is still kept in perfect condition.
Discover the Money Museum
In 2006, the bank opened a special place called the Learning Center and Money Museum. It's a fun place where you can learn all about money! The museum has more than 30 hands-on exhibits. You can learn about the history of money and how it affects our lives.
The museum is open from Monday to Thursday, and it's free to visit! You can play computer games about trading, join writing contests, and watch interesting videos. There are also films and virtual tours. One popular film is "The Panic of 1907." It explains how a big financial crisis led to the creation of the Federal Reserve System.
How the Bank is Run
The Federal Reserve Bank of Cleveland has a group of people called a board of directors. These directors help make important decisions about how the bank operates. They work to make sure the bank serves the public and helps the economy.
