Federal Reserve Bank of Philadelphia
The Federal Reserve Bank of Philadelphia, headquartered in Philadelphia, Pennsylvania, is responsible for the Third District of the Federal Reserve, which covers eastern Pennsylvania, the 9 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 Charles Plosser. The Philadelphia Fed conducts research on both the national and regional economy. Its regional manufacturing 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 survey of 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.[1] The Federal Reserve Bank of Philadelphia additionally publishes a quarterly publication entitled Business Review.[2]
Contents |
[edit] Current Board of Directors
The following people serve on the board of directors as of 2011:[3] All terms expire December 31.[3]
[edit] Class A
| Name | Title | Term Expires |
|---|---|---|
| Frederick "Ted" C. Peters | Chairman and Chief Executive Officer Bryn Mawr Trust Company Bryn Mawr, Pennsylvania |
2011 |
| Aaron L. Groff, Jr. | Chairman, President and Chief Executive Officer Ephrata National Bank Ephrata, Pennsylvania |
2012 |
| R. Scott Smith | Chairman and Chief Executive Officer Fulton Financial Corporation Lancaster, Pennsylvania |
2010 |
[edit] Class B
| Name | Title | Term Expires |
|---|---|---|
| Michael F. Camardo | Retired Executive Vice President Lockheed Martin ITS Cherry Hill, New Jersey |
2011 |
| Deborah M. Fretz | President and Chief Executive Officer Sunoco Logistics Partners Philadelphia, Pennsylvania |
2012 |
| Keith S. Campbell | Chairman Mannington Mills, Inc. Salem, New Jersey |
2013 |
[edit] Class C
| Name | Title | Term Expires |
|---|---|---|
| Charles P. Pizzi
(Chair) |
President and Chief Executive Officer Tasty Baking Company Philadelphia, Pennsylvania |
2011 |
| James E. Nevels | Chairman The Swarthmore Group Philadelphia, Pennsylvania |
2012 |
| Jeremy Nowak
(Deputy Chair) |
President and Chief Executive Officer The Reinvestment Fund Philadelphia, Pennsylvania |
2013 |
[edit] References
- ^ "Economists’ Tea Leaves Point to Recession" article by David Leonhardt in The New York Times, February 13, 2008.
- ^ Business Review ISSN 0007-7011
- ^ a b "Directors of Federal Reserve Banks and Branches". The Federal Reserve. May 24, 2011. http://www.federalreserve.gov/generalinfo/listdirectors/default.cfm.
[edit] External links and further reading
Coordinates: 39°57′07″N 75°09′04″W / 39.951933°N 75.15099°W
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