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Federal Reserve Bank of Philadelphia: Difference between revisions
Federal Reserve Bank of Philadelphia (view source)
Revision as of 17:40, 3 February 2025
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{{Organization | |||
|OrganizationName=Federal Reserve Bank of Philadelphia | |||
|OrganizationType=Independent Agencies | |||
|Mission=To promote the stability, integrity, and efficiency of the U.S. economy and financial system. The Philadelphia Fed serves the Third Federal Reserve District by implementing monetary policy, supervising financial institutions, and providing payment services. | |||
|ParentOrganization=Federal Reserve System | |||
|CreationLegislation=Federal Reserve Act of 1913 | |||
|Employees=900 | |||
|Budget=Not publicly specified (self-funding organization) | |||
|OrganizationExecutive=President and CEO | |||
|Services=Monetary policy implementation; bank supervision; financial services; economic research; community development; | |||
|HeadquartersLocation=39.95342, -75.15043 | |||
|HeadquartersAddress=10 Independence Mall, Philadelphia, PA 19106 | |||
|Website=https://www.philadelphiafed.org | |||
}} | |||
{{Short description|Member Bank of Federal Reserve}} | {{Short description|Member Bank of Federal Reserve}} | ||
{{Infobox central bank | {{Infobox central bank | ||
| name = Federal Reserve Bank of Philadelphia | | name = Federal Reserve Bank of Philadelphia | ||
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| image_2 = [[File:Federal Reserve Bank Building Philadelphia.jpg|126px]] | | image_2 = [[File:Federal Reserve Bank Building Philadelphia.jpg|126px]] | ||
| image_title_2 = Headquarters | | image_title_2 = Headquarters | ||
| headquarters = 10 [[Independence Mall (Philadelphia)|Independence Mall]] <br /> | | headquarters = 10 [[Independence Mall (Philadelphia)|Independence Mall]] <br />Philadelphia, [[Pennsylvania]], [[United States of America|USA]] | ||
| coordinates = <!-- use {{coord}} --> | | coordinates = <!-- use {{coord}} --> | ||
| established = {{Start date and age|p=y|1914|5|18}} | | established = {{Start date and age|p=y|1914|5|18}} | ||
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}} | }} | ||
The '''Federal Reserve Bank of Philadelphia''' — also known as the '''Philadelphia Fed''' or the '''Philly Fed''' — headquartered at 10 Independence Mall in | The '''Federal Reserve Bank of Philadelphia''' — also known as the '''Philadelphia Fed''' or the '''Philly Fed''' — headquartered at 10 Independence Mall in Philadelphia, [[Pennsylvania]], is responsible for the Third District of the [[Federal Reserve]], which covers eastern and central Pennsylvania, the nine southern counties of [[New Jersey]], and [[Delaware]]. Its geographical territory is by far the smallest in the system, and its population base is the second-smallest (next to the [[Federal Reserve Bank of Minneapolis]]). The current president of the Philadelphia Fed is [[Patrick T. Harker]].<ref>{{cite journal |last=Crutsinger |first=Martin |date=March 2, 2015 |title=University of Delaware President Harker tapped to succeed Plosser at Philadelphia Fed |url=https://www.usnews.com/news/business/articles/2015/03/02/university-president-tapped-to-head-philadelphia-fed |journal=U.S. News & World Report |agency=}}</ref> | ||
The Philadelphia Fed conducts research on both the national and regional [[Economic system|economy]]. Its regional [[manufacturing]] [[index (economics)|index]] is the second of the regional manufacturing reports released every month (the New York Fed's Empire State Index is now released earlier), but it is still very important to the financial community as a proxy for nationwide manufacturing conditions. | The Philadelphia Fed conducts research on both the national and regional [[Economic system|economy]]. Its regional [[manufacturing]] [[index (economics)|index]] is the second of the regional manufacturing reports released every month (the New York Fed's Empire State Index is now released earlier), but it is still very important to the financial community as a proxy for nationwide manufacturing conditions. | ||
The Federal Reserve Bank of Philadelphia publishes a quarterly [[Statistical survey|survey]] of [[economic forecasting|professional economic forecasters]], the [[Survey of Professional Forecasters]], also called "The Anxious Index". It is a highly predictive report on the prospects for the Economy of the United States.<ref>[https://www.nytimes.com/2008/02/13/business/13econ.html "Economists’ Tea Leaves Point to Recession"] article by [[David Leonhardt]] in '' | The Federal Reserve Bank of Philadelphia publishes a quarterly [[Statistical survey|survey]] of [[economic forecasting|professional economic forecasters]], the [[Survey of Professional Forecasters]], also called "The Anxious Index". It is a highly predictive report on the prospects for the Economy of the United States.<ref>[https://www.nytimes.com/2008/02/13/business/13econ.html "Economists’ Tea Leaves Point to Recession"] article by [[David Leonhardt]] in ''The New York Times,'' February 13, 2008.</ref> It also publishes a quarterly publication entitled [[Business Review]].<ref>[http://www.philadelphiafed.org/econ/br/ Business Review] {{Webarchive|url=https://web.archive.org/web/20080523155713/http://www.philadelphiafed.org/econ/br/ |date=2008-05-23 }} ISSN 0007-7011</ref> The Federal Reserve Bank of Philadelphia also publishes the [[Livingston Survey]] and the [[Greenbook]] data sets.{{Citation needed|date = October 2016}} | ||
==Board of directors== | ==Board of directors== | ||