Franchises And The NEO Economy; Lunch With The Cleveland Fed

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25 Small Business owners and managers attended a lunch at The Federal Reserve Bank of Cleveland recently. We were there to share our feelings and concerns with some of the fed's representatives...

The Federal Reserve Bank of Cleveland is no ordinary bank, folks. {Ordinary banks don’t require that certain security checks take place before you enter}  This is a highly fortified building, and is even more secure since the 9-11 attacks. Here is an interesting fact; The 100 ton vault door located inside The Federal Reserve Bank of Cleveland, is the largest in the world.

There are actually 12 Federal Reserve Banks throughout the country, and the Cleveland bank is in the 4th district.

From Wikipedia:

“Each Federal Reserve Bank has a board of directors, whose members work closely with their Reserve Bank president to provide grassroots economic information and input on management and monetary policy decisions. These boards are drawn from the general public and the banking community and oversee the activities of the organization. They also appoint the presidents of the Reserve Banks, subject to the approval of the Board of Governors. Reserve Bank boards consist of nine members: six serving as representatives of nonbanking enterprises and the public (nonbankers) and three as representatives of banking. Each Federal Reserve branch office has its own board of directors, composed of three to seven members, that provides vital information concerning the regional economy.”