In this paper, we introduce and investigate the statistical mechanics of hierarchical neural networks. First, we approach these systems \ue0 la Mattis, by thinking of the Dyson model as a single-pattern hierarchical neural network. We also discuss the stability of different retrievable states as predicted by the related self-consistencies obtained both from a mean-field bound and from a bound that bypasses the mean-field limitation. The latter is worked out by properly reabsorbing the magnetization fluctuations related to higher levels of the hierarchy into effective fields for the lower levels. Remarkably, mixing Amits ansatz technique for selecting candidate-retrievable states with the interpolation procedure for solving for the free ener...