Federal Reserve Bank of Philadelphia
From Wikipedia, the free encyclopedia
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] Philadelphia Board of Directors
The following people are on the board of directors as of 2009:[3]
[edit] Class A
| Name | Title | Term Expires |
|---|---|---|
| Aaron L. Groff, Jr. | Chairman, President and Chief Executive Officer
Ephrata National Bank Ephrata, Pennsylvania |
2009 |
| Ted T. Cecala | Chairman and Chief Executive Officer
Wilmington Trust Corporation Wilmington, Delaware |
2010 |
| Frederick "Ted" C. Peters | Chairman and Chief Executive Officer
Bryn Mawr Trust Company Bryn Mawr, Pennsylvania |
2011 |
[edit] Class B
| Name | Title | Term Expires |
|---|---|---|
| Garry L. Maddox | President and Chief Executive Officer
A. Pomerantz & Company Philadelphia, Pennsylvania |
2009 |
| Keith S. Campbell | Chairman
Mannington Mills, Inc. Salem, New Jersey |
2010 |
| Michael F. Camardo | Retired Executive Vice President
Lockheed Martin ITS Cherry Hill, New Jersey |
2011 |
[edit] Class C
| Name | Title | Term Expires |
|---|---|---|
| William F. Hecht
(Chair) |
Retired Chairman, President and
Chief Executive Officer PPL Corporation Allentown, Pennsylvania |
2009 |
| Jeremy Nowak | President and Chief Executive Officer
The Reinvestment Fund Philadelphia, Pennsylvania |
2010 |
| Charles P. Pizzi
(Deputy Chair) |
President and Chief Executive Officer
Tasty Baking Company Philadelphia, Pennsylvania |
2011 |
All terms expire on December 31.[3]
[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. The Federal Reserve Board. February 5, 2009. http://www.federalreserve.gov/GeneralInfo/ListDirectors/default.cfm?WhichDistrict=13. Retrieved on 2009-02-19.
[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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