After three years on the job, Sandra Pianalto, president and CEO of the Federal Reserve Bank of Cleveland, should be accustomed to life under the microscope.

An example: Ms. Pianalto on Sept. 8 gave a speech in Oak Brook, Ill., at a copper industry conference and touched on why she had voted a month earlier to leave the federal funds rate unchanged following 17 consecutive rate increases.

The remarks gained international attention. News organizations in Australia and New Zealand, for instance, said her comments hinted that the Federal Open Market Committee might again vote to keep rates where they are.

Meantime, the press in the United Kingdom took the opposite stance, with The Times in London saying Ms. Pianalto's talk signaled a new string of rate hikes might be on the way.

In a 90-minute interview with Crain's Cleveland Business on Aug. 31, Ms. Pianalto didn't show her hand as it relates to how she might vote at the Fed's next meeting this Wednesday, Sept. 20. However, she did touch on a range of other subjects, including new Fed chairman Ben Bernanke and her impressions of how the economy is faring.

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