Federal Reserve Bank of Philadelphia
| Company type | Regional Federal Reserve Bank |
|---|---|
| Industry | Banking, Financial services |
| Headquarters | Philadelphia , United States |
Area served | Third District of the Federal Reserve (eastern and central Pennsylvania, nine counties in southern New Jersey, Delaware) |
Key people | Patrick T. Harker (President) |
| Products | Regional manufacturing index, Survey of Professional Forecasters, Business Review, Livingston Survey, Greenbook datasets |
| Website | www |
The Federal Reserve Bank of Philadelphia, often referred to as the Philadelphia Fed or Philly Fed, is located at 10 Independence Mall in Philadelphia, Pennsylvania. It oversees the Third District of the Federal Reserve, which encompasses eastern and central Pennsylvania, nine counties in southern New Jersey, and Delaware. This district is the smallest geographically and ranks second-lowest in population among all Federal Reserve districts. The current president leading the institution is Patrick T. Harker.
Focused on analyzing both national and regional economic trends, the Philadelphia Fed produces a monthly regional manufacturing index. Despite being released after the New York Fed's Empire State Index, this index remains a vital financial barometer and serves as an indicator of manufacturing activity across the United States. The bank also issues the quarterly Survey of Professional Forecasters, popularly known as "The Anxious Index," which provides a highly regarded forecast of the U.S. economy. Furthermore, it publishes the quarterly Business Review along with the Livingston Survey and Greenbook datasets, all of which contribute to economic research and forecasting efforts.
Board of directors
As of July 2023, the board of directors consists of the following individuals. Their terms conclude on December 31 of their respective final years.
Class A
| Name | Position | Term Ends |
|---|---|---|
| Randall E. Black | President and CEO Citizens Financial Services Inc. and First Citizens Community Bank Mansfield, Pennsylvania |
2023 |
| Timothy P. Snyder | President and CEO Fleetwood Bank Fleetwood, Pennsylvania |
2024 |
| Christopher D. Maher | Chairman and CEO OceansBank First, N.A. Toms River, New Jersey |
2025 |
Class B
| Name | Position | Term Ends |
|---|---|---|
| Bret S. Perkins | Senior Vice President, External and Government Affairs Comcast Corporation Philadelphia, Pennsylvania |
2023 |
| Julia H. Klein | Chairwoman and COO C.H. Briggs Company Reading, Pennsylvania |
2024 |
| John Fry | President Drexel University Philadelphia, Pennsylvania |
2025 |
Class C
| Name | Position | Term Ends |
|---|---|---|
| William Lo | President Crystal Steel Fabricators, Inc. Delmar, Delaware |
2023 |
| Sharmain Matlock-Turner
(Deputy Chair) |
President and CEO Urban Affairs Coalition Philadelphia, Pennsylvania |
2024 |
| Anthony Ibargüen
(Chair) |
CEO Quench USA, Inc. King of Prussia, Pennsylvania |
2025 |
See also
- Federal Reserve System
- Federal Reserve Districts
- Federal Reserve Branches
- Federal Reserve Act
- Old Federal Reserve Bank Building (Philadelphia)
- Structure of the Federal Reserve System
References
Notes