Philadelphia Fed: Newsroom

Firms See Increased Business Activity

Thu, 19 Nov 2009 14:00:00 GMT

November 19, 2009 — Activity in the region's manufacturing sector is picking up, according to firms polled for November's Business Outlook Survey. The general activity index increased to 16.7 from 11.5 in October. In the special questions, firms were asked about capacity utilization rates. For an interview with our analyst, contact Katherine Dibling at 215-574-4119.

Speech: Food or Commodity Price Shocks and Inflation: A Central Banker's Perspective

Thu, 19 Nov 2009 17:30:00 GMT

November 19, 2009 — President Charles I. Plosser gives a central banker's perspective on the challenges that volatility in food prices or other relative prices poses for monetary policy. He will discuss three approaches central bankers can take to protect their credibility to control inflation in the face of these price shocks.

Forecasters See Growth in 2010

Mon, 16 Nov 2009 15:00:00 GMT

November 16, 2009 — The 41 participants in the fourth-quarter Survey of Professional Forecasters, released today, project growth in the U.S. economy over the next five quarters. However, they see a weaker labor market than they did three months ago. Read the news release and get projections for several indicators through 2012. For an interview with our analyst, contact Katherine Dibling, senior media representative, at 215-574-4119.

Philadelphia Fed Releases South Jersey Business Survey

Wed, 04 Nov 2009 17:00:00 GMT

November 4, 2009 — The Philadelphia Fed has released the third quarter South Jersey Business Survey. The survey participants, members of the Chamber of Commerce of Southern New Jersey, are asked about overall changes in business activity in their firms from the previous quarter. They are also asked about their expectations over the next six months.

Analysis: September Metropolitan Area Employment

Fri, 30 Oct 2009 12:30:00 GMT

October 30, 2009 — The Philadelphia Fed today posted analysis related to September's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Philadelphia Fed Releases September Leading Indexes

Thu, 29 Oct 2009 14:00:00 GMT

October 29, 2009 — The Philadelphia Fed today released September's leading indexes for Delaware, New Jersey, and Pennsylvania.

Banking Legislation & Policy for Third Quarter 2009

Wed, 28 Oct 2009 18:45:00 GMT

October 28, 2009 — Banking Legislation & Policy summarizes and updates pending banking and financial legislation, regulation, and judicial activity at the federal level and for the Third District states (Pennsylvania, New Jersey, and Delaware).

Analysis: September Housing Permits Data

Wed, 28 Oct 2009 12:30:00 GMT

October 28, 2009 — The Philadelphia Fed today posted an analysis of data on regional housing permits for September.

Philadelphia Fed Releases September Coincident Indexes

Fri, 23 Oct 2009 14:00:00 GMT

October 23, 2009 — September's coincident indexes for the 50 states were released today.

Analysis: September State Employment Data

Thu, 22 Oct 2009 12:30:00 GMT

October 22, 2009 — The Philadelphia Fed today posted an analysis of September's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Atlantic City Responds to Bank Research

Wed, 21 Oct 2009 17:30:00 GMT

October 21, 2009 — The Federal Reserve Bank of Philadelphia's Community Affairs Department recently received an award from the City of Atlantic City for a special report, "Atlantic City: Past as Prologue," which demonstrated a need for services to help residents in the city. Atlantic City has a high rate of poverty. The report is also connected to the East Coast launch of a financial education initiative, Hands on Banking, a Wells Fargo financial education program.

Speech: Sound Monetary Policy for Good Times and Bad

Wed, 21 Oct 2009 00:00:00 GMT

October 20, 2009 — President Charles I. Plosser shared his views on the need for clearly defined and systematic monetary policy in his presentation "Sound Monetary Policy for Good Times and Bad." President Plosser spoke today at the Associates Meeting of the Stanford Institute for Economy Policy Research in a panel discussion on "Monetary Policy in a Tough Environment."

Analysis: Second Quarter Personal Income

Mon, 19 Oct 2009 12:30:00 GMT

October 19, 2009 — The Philadelphia Fed today posted an analysis of second quarter state personal income. The analysis is based on data recently released by the U.S. Bureau of Economic Analysis.

Firms See Signs of Recovery

Thu, 15 Oct 2009 14:00:00 GMT

October 15, 2009 — The region's manufacturing sector is continuing to show signs of recovery, according to firms polled for October's Business Outlook Survey. The general activity index decreased from 14.1 in September to 11.5 this month. In the special questions, firms were asked about changes in their plans for capital spending related to current financial conditions. For an interview with our analyst, contact Katherine Dibling at 215-574-4119.

Analysis: August Metropolitan Area Employment

Fri, 02 Oct 2009 12:30:00 GMT

October 2, 2009 — The Philadelphia Fed today posted analysis related to August's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Speech: Demystifying the Federal Reserve

Tue, 29 Sep 2009 23:00:00 GMT

Philadelphia Fed President Charles I. Plosser gives his views on the regional and national outlook for the U.S. economy. He explains the role of the regional Reserve Banks and the importance of the Fed's independence. He also shares his perspective about key challenges facing the Fed as it seeks to ensure price stability and sustainable economic growth.

Philadelphia Fed Releases August Leading Indexes

Tue, 29 Sep 2009 14:00:00 GMT

September 29, 2009 — The Philadelphia Fed today released August's leading indexes for Delaware, New Jersey, and Pennsylvania.

Analysis: August Housing Permits Data

Mon, 28 Sep 2009 12:30:00 GMT

September 28, 2009 — The Philadelphia Fed today posted an analysis of data on regional housing permits for August.

Philadelphia Fed Releases Second Quarter Banking Brief

Thu, 24 Sep 2009 13:30:00 GMT

September 24, 2009 — The Philadelphia Fed has released its Second Quarter 2009 Banking Brief. The newsletter analyzes recent banking trends in the tri-state region of Pennsylvania, New Jersey, and Delaware as well as banking developments in the nation.

Philadelphia Fed Releases August Coincident Indexes

Tue, 22 Sep 2009 14:00:00 GMT

September 22, 2009 — August's coincident indexes for the 50 states were released today.

Analysis: August State Employment Data

Mon, 21 Sep 2009 12:30:00 GMT

September 21, 2009 — The Philadelphia Fed today posted an analysis of August's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Firms See Signs of Growth

Thu, 17 Sep 2009 14:00:00 GMT

September 17, 2009 — The region's manufacturing sector is showing signs of growth, according to firms polled for September's Business Outlook Survey. Indexes for general activity, new orders, and shipments all registered positive readings for the second consecutive month. Indexes for employment, work hours, and the prices received for manufactured goods remained negative. The general activity index increased from 4.2 in August to 14.1 this month. In the special questions, firms were asked for their expectations of their total production in the third and fourth quarters. For an interview with our analyst, contact Katherine Dibling, senior media representative, at 215-574-4119.

Analysis: July Metropolitan Area Employment

Thu, 03 Sep 2009 12:30:00 GMT

September 3, 2009 — The Philadelphia Fed today posted analysis related to July's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Philadelphia Fed Releases July Leading Indexes

Fri, 28 Aug 2009 14:00:00 GMT

August 28, 2009 — The Philadelphia Fed today released July's leading indexes for Delaware, New Jersey, and Pennsylvania.

Analysis: July Housing Permits Data

Thu, 27 Aug 2009 12:30:00 GMT

August 27, 2009 — The Philadelphia Fed today posted an analysis of data on regional housing permits for July.

Analysis: Second Quarter Housing Price Appreciation

Wed, 26 Aug 2009 12:30:00 GMT

August 26, 2009 — The Philadelphia Fed today posted an analysis of second quarter statistics on regional house price appreciation released by the Federal Housing Finance Agency (FHFA).

Philadelphia Fed Releases July Coincident Indexes

Tue, 25 Aug 2009 14:00:00 GMT

August 25, 2009 — July's coincident indexes for the 50 states were released today.

Analysis: July State Employment Data

Mon, 24 Aug 2009 12:30:00 GMT

August 24, 2009 — The Philadelphia Fed today posted an analysis of June's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Cascade: Third District Gets Community Development Funds

Thu, 20 Aug 2009 15:45:00 GMT

August 20, 2009 — The Fall 2009 Cascade discusses the influx of $95 million from the Neighborhood Stabilization Program, created by the Housing and Economic Recovery Act of 2008, into the Third Federal Reserve District. The issue also includes a review of research on how the American Recovery and Reinvestment Act of 2009 is affecting income inequality. In addition, there are articles about a Pennsylvania law covering home improvement contractors, a payday lending law, and tips for avoiding foreclosure scams.

Manufacturers See Improvement

Thu, 20 Aug 2009 14:00:00 GMT

August 20, 2009 — The region's manufacturing sector is showing some signs of stabilizing, according to the firms polled for the August Business Outlook Survey. The indexes for general activity, new orders, and shipments all registered slightly positive readings this month. The general activity index increased to 4.2 this month from -7.5 in July. In the special questions, manufacturers were asked about their inventory situations. For an interview with our analyst, contact Katherine Dibling, senior media representative, at 215-574-4119.

Third Quarter Business Review Released Today

Tue, 18 Aug 2009 20:00:00 GMT

August 18, 2009 — The Third Quarter Business Review, released today, covers exchange rates and how they affect import prices; the "City Beautiful" movement and how leisure amenities are important for an area's growth; and the role of convertible securities in venture capital financing. Also included are an update of tables illustrating changes in the use of electronic means of payment and the latest issue of Research Rap.

Scranton-Wilkes-Barre, PA MSA Community Profile Update Is Available Now

Tue, 18 Aug 2009 19:00:00 GMT

August 18, 2009 — The Community Affairs Department of the Federal Reserve Bank of Philadelphia has updated the Scranton-Wilkes-Barre, PA MSA Community Profile. It includes historical information, demographics, and information about financial institutions, and market-share data, and community organizations. It also lists potential funding sources.

Forecasters See Improved Prospects for Growth

Fri, 14 Aug 2009 14:00:00 GMT

August 14, 2009 — The 34 participants in the third-quarter Survey of Professional Forecasters, released today, have made upward revisions to their expectations for rate of growth in GDP over the next four years. They project growth this quarter at an annual rate of 2.4 percent, up from 0.4 percent in the last survey. For forecasts on other indicators and commentary, see the report and the press release.

Bank Publication Summarizes Proposed Regulatory Reforms

Thu, 06 Aug 2009 12:45:00 GMT

August 6, 2009 — The Federal Reserve Bank of Philadelphia today released the Second Quarter 2009 Banking Legislation & Policy. This issue summarizes the proposed financial regulatory reforms that include increased supervision and regulation of financial firms, comprehensive supervision of financial markets, and increased protection for consumers and investors.

South Jersey Firms Continue to See Weakness

Tue, 04 Aug 2009 14:00:00 GMT

Business conditions in the South Jersey region continue to decline but at a more moderate pace than in the first quarter, according to 150 members of the Chamber of Commerce of Southern New Jersey External Link who participated in the South Jersey Business Survey. The index that measures their assessment of their own company's general business activity increased from -24.5 in the first quarter to -9.9 this quarter. For an interview with our analyst, contact Katherine Q. Dibling at katherine.dibling@phil.frb.org or 215-574-4119.

Analysis: June Metropolitan Area Employment

Fri, 31 Jul 2009 12:30:00 GMT

July 31, 2009 — The Philadelphia Fed today posted analysis related to June's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Philadelphia Fed Releases June Leading Indexes

Thu, 30 Jul 2009 14:00:00 GMT

July 30, 2009 — The Philadelphia Fed today released June's leading indexes for Delaware, New Jersey, and Pennsylvania.

Analysis: June Housing Permits Data

Tue, 28 Jul 2009 12:30:00 GMT

July 28, 2009 — The Philadelphia Fed today posted an analysis of data on regional housing permits for June.

Chairman Bernanke Answers Questions During a Town Hall

Mon, 27 Jul 2009 16:00:00 GMT

July 27, 2009 — Federal Reserve Chairman Ben Bernanke answered questions from a Kansas City-area audience during a town-hall forum there yesterday. The forum was moderated by NewsHour executive and anchor Jim Lehrer, and excerpts can be viewed on the Newshour's website. External Link The forum will air in 20-minute segments Monday, Tuesday, and Wednesday on WHYY-TV at 6 p.m.

Philadelphia Fed Releases June Coincident Indexes

Tue, 21 Jul 2009 14:00:00 GMT

July 21, 2009 — June's coincident indexes for the 50 states were released today.

Analysis: June State Employment Data

Mon, 20 Jul 2009 12:30:00 GMT

July 20, 2009 — The Philadelphia Fed today posted an analysis of June's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Firms Continue to See Weakness

Thu, 16 Jul 2009 14:00:00 GMT

July 16, 2009 — The region's manufacturing sector is still experiencing weakness, according to firms polled for July's Business Outlook Survey. The general activity index decreased to -7.5 from -2.2 in June. In the special questions, the firms were asked about summer shutdowns and slowdowns in production.

Analysis: May Metropolitan Area Employment

Thu, 02 Jul 2009 12:30:00 GMT

July 2, 2009 — The Philadelphia Fed today posted analysis related to May's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Bank Names Director of Real-Time Data Research Center

Wed, 01 Jul 2009 17:30:00 GMT

July 1, 2009 — The Federal Reserve Bank of Philadelphia has announced the promotion of Keith Sill to assistant vice president and director of the Real-Time Data Research Center in the Bank's Research Department, effective today.

Philadelphia Fed May Releases Leading Indexes

Fri, 26 Jun 2009 14:00:00 GMT

June 26, 2009 — The Philadelphia Fed today released May's leading indexes for Delaware, New Jersey, and Pennsylvania.

Analysis: May Housing Permits Data

Thu, 25 Jun 2009 12:30:00 GMT

June 25, 2009 — The Philadelphia Fed today posted an analysis of data on regional housing permits for May.

FOMC Maintains Target Range for Federal Funds Rate

Wed, 24 Jun 2009 18:45:00 GMT

June 24, 2009 — The Federal Open Market Committee decided today to maintain the target range for the federal funds rate at 0 to 1/4 percent. External Link The Committee continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period.

Learn All About Funding for Minority Businesses

Wed, 24 Jun 2009 14:40:00 GMT

June 24, 2009 — Minority-business owners can learn about funding options for their enterprises by taking part in a discussion during The Entrepreneurs Forum of Greater Philadelphia's External Link "Funding Minority Businesses-Where the Rubber Meets the Road," scheduled for 5:30 p.m., Tuesday, July 14, 2009, at the Federal Reserve Bank of Philadelphia, 7th and Arch streets. The event will include comments from Mayor Michael A. Nutter and Federal Reserve Bank of Philadelphia President Charles I. Plosser. Media can contact Katherine Dibling, senior media representative for the Philadelphia Fed at 215-574-4119 or katherine.dibling@phil.frb.org.

Philadelphia Fed Releases May Coincident Indexes

Tue, 23 Jun 2009 14:00:00 GMT

June 23, 2009 — May's coincident indexes for the 50 states were released today.

Analysis: May State Employment Data

Mon, 22 Jun 2009 12:30:00 GMT

June 22, 2009 — The Philadelphia Fed today posted an analysis of May's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Analysis: Personal Income

Fri, 19 Jun 2009 12:30:00 GMT

June 19, 2009 — The Philadelphia Fed today posted an analysis of first-quarter 2009 state personal income. The analysis is based on data recently released by the U.S. Bureau of Economic Analysis.

Firms See Some Improvement

Thu, 18 Jun 2009 14:00:00 GMT

June 18, 2009 — The region's manufacturing sector continued to show weakness this month, according to the firms polled for the June Business Outlook Survey. However, the general activity index and other key indicators did improve. The general activity index increased to -2.2 from -22.6 in May. In the special questions, manufacturers were asked about the probability that they would relocate over the next five years.

Cascade: Alternative Resources for Small Businesses

Mon, 15 Jun 2009 17:45:00 GMT

June 15, 2009 — The Spring/Summer issue of Cascade, released today, looks at how small businesses are weathering the recession by turning to alternative resources for credit and operations support.

Philadelphia Fed Releases First Quarter Banking Brief

Mon, 15 Jun 2009 16:00:00 GMT

June 15, 2009 — The Philadelphia Fed released its First Quarter 2009 Banking Brief. The newsletter analyzes recent banking trends in the tri-state region of Pennsylvania, New Jersey, and Delaware as well as banking developments in the nation.

Beige Book Released Today

Wed, 10 Jun 2009 19:00:00 GMT

June 10, 2009 — The Federal Reserve Board of Governors released the Beige Book External Link today. The Beige Book is a summary of anecdotal information on current economic conditions in each of the 12 Federal Reserve Districts.

Analysis: Metropolitan Area Employment

Fri, 05 Jun 2009 12:30:00 GMT

June 5, 2009 — The Philadelphia Fed today posted analysis related to April's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Business Review: Credit Standards, Short-Selling, and Bankruptcy and Housing

Wed, 03 Jun 2009 15:45:00 GMT

June 3, 2009 — The Second Quarter 2009 Business Review, released today, includes the following articles: "Bank Credit Standards" looks at the evidence for a bank lending cycle; "Regulating Short-Sales" considers the pros and cons of restricting short-sales; and "Residential Housing and Personal Bankruptcy" examines the impact of bankruptcy law on the availability of mortgages and their terms and how bankruptcy filings affect the outcome of mortgage foreclosures.

Annual Report Highlights Philadelphia Fed's Response to Financial Crisis

Mon, 01 June 2009 15:00:00 GMT

June 1, 2009 — Discover the instrumental role the Philadelphia Fed played in "Meeting the Challenges" of 2008, as featured in the Bank's recently released annual report. Gain an understanding of President Plosser's four principles that he suggests should guide the central bank's actions to promote greater financial stability. Review the Research Department's efforts to lay the groundwork for improved policymaking and the extraordinary actions taken by the Supervision, Regulation and Credit function's discount window management in response to the crisis. And learn about the steps taken by the Bank's Community Affairs Department to help homeowners prevent foreclosure.

Philadelphia Fed Releases Coincident and Leading Indexes

Fri, 29 May 2009 14:00:00 GMT

May 29, 2009 — The Philadelphia Fed today released April's coincident indexes for the 50 states and April's leading indexes for Delaware, New Jersey, and Pennsylvania.

Analyses: Housing Permits and House Price Appreciation

Thu, 28 May 2009 12:30:00 GMT

May 28, 2009 — The Philadelphia Fed today posted analyses of data on regional housing permits for April and first-quarter statistics on regional house price appreciation released by the Federal Housing Finance Agency (FHFA).

Analysis: State Employment Data

Tue, 26 May 2009 12:30:00 GMT

May 26, 2009 — The Philadelphia Fed today posted an analysis of April's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Speech: A Perspective on the Outlook, Output Gaps, and Price Stability

Thu, 21 May 2009 23:00:00 GMT

May 21, 2009 — President Plosser gives his near-term economic outlook and suggests reasons why policymakers and forecasters should be extremely cautious in relying on conventional measures of potential output and output gaps to restrain inflation.

Firms Continue to See Weakness

Thu, 21 May 2009 14:00:00 GMT

May 21, 2009 — The region's manufacturing sector continued to show weakness this month, according to participants in the May Business Outlook Survey. However, indexes for general activity, shipments, and employment did show some improvement. The diffusion index of current activity increased from a reading of -24.4 in April to -22.6 this month. In the special questions, manufacturers were asked about demand. For an interview with our analyst, contact Katherine Q. Dibling at 215-574-4119.

Forecasters Expect Lower Growth, Higher Unemployment

Fri, 15 May 2009 14:00:00 GMT

May 15, 2009 — The participants in the second-quarter Survey of Professional Forecasters, which was released today, expect lower growth and higher unemployment over the next two years than they did three months ago. In the special questions, the forecasters were asked to provide two more years of annual forecasts for the civilian unemployment rate and real GDP. For an interview with our analyst, contact Katherine Dibling at 215-574-4119.

Analysis: Metropolitan Area Employment

Fri, 01 May 2009 12:30:00 GMT

May 1, 2009 — The Philadelphia Fed today posted analysis related to March's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Philadelphia Fed Releases Special Report on Atlantic City

Thu, 30 Apr 2009 20:30:00 GMT

April 30, 2009 — The Community Affairs Department of the Federal Reserve Bank of Philadelphia today released "Atlantic City: Past As Prologue." The report is an in-depth look at the growth and decline of Atlantic City and the conditions there since casino gambling was legalized in 1978.

FOMC Maintains Target Range for Federal Funds Rate

Wed, 29 Apr 2009 19:00:00 GMT

April 29, 2009 — The FOMC decided today to maintain the target range for the federal funds rate at 0 to 1/4 percent. The Committee anticipates that current economic conditions will warrant exceptionally low levels of the federal funds rate for an extended period.

Philadelphia Fed Releases Leading Indexes

Wed, 29 Apr 2009 14:00:00 GMT

April 29, 2009 — The Philadelphia Fed today released March's leading indexes for Delaware, New Jersey, and Pennsylvania.

Analysis: Housing Data

Mon, 27 Apr 2009 12:30:00 GMT

April 27, 2009 — The Philadelphia Fed today posted an analysis of data on regional housing permits for March.

Special Report: Oil Prices and the Third District States

Thu, 23 Apr 2009 12:05:00 GMT

April 23, 2009 — The Federal Reserve Bank of Philadelphia today released a Research Rap Special Report: Oil Prices and Third District States.

Philadelphia Fed Releases Coincident Indexes

Tue, 21 Apr 2009 14:00:00 GMT

April 21, 2009 — March's coincident indexes for the 50 states were released today.

Analysis: State Employment Data

Mon, 20 Apr 2009 12:30:00 GMT

April 20, 2009 — The Philadelphia Fed today posted an analysis of March's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Boston Fed Releases "Lessons from a Storm"

Thu, 16 Apr 2009 19:00:00 GMT

April 16, 2009 — The Federal Reserve Bank of Boston today released "Lessons from a Storm." The video demonstrates how having a bank account proved to be a big advantage to Hurricane Katrina victims who were trying to get back on their feet and re-establish a firm financial footing.

Firms Continue to See Decrease in Business Activity

Thu, 16 Apr 2009 14:00:00 GMT

April 16, 2009 — The region's manufacturing sector contracted less severely this month, according to the firms polled for the April Business Outlook Survey. The survey's broadest measure of manufacturing conditions, the diffusion index of current activity, increased from a reading of -35.0 in March to -24.4 this month. In the special questions, manufacturers were asked about credit conditions. For an interview with our analyst, contact Katherine Q. Dibling at katherine.dibling@phil.frb.org or 215-574-4119.

New York Fed: Empire State Manufacturing Survey

Wed, 15 Apr 2009 16:30:00 GMT

April 15, 2009 — Conditions for New York manufacturers continued to deteriorate in April, but at a much slower pace than in recent months, according to Empire State Manufacturing Survey participants. The general business conditions index climbed 24 points, from its record low in March to -14.7.

Business Conditions Index Updated

Wed, 15 Apr 2009 14:15:00 GMT

April 15, 2009 — The Federal Reserve Bank of Philadelphia's Real-Time Data Research Center has updated the business conditions index. See the press release for more information about the index.

Analysis: Metropolitan Area Employment

Thu, 02 Apr 2009 12:30:00 GMT

April 2, 2009 — The Philadelphia Fed today posted analysis related to February's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Speech: Improving Financial Stability

Tue, 31 Mar 2009 17:00:00 GMT

March 31, 2009 — Philadelphia Fed President Charles I. Plosser outlines key principles for sound and effective central banking. He discusses how these principles provide guidance for some of the regulatory and supervisory challenges facing the Fed.

Philadelphia Fed Releases Leading and Coincident Indexes

Tue, 31 Mar 2009 14:00:00 GMT

March 31, 2009 — The Philadelphia Fed today released February's leading indexes for Delaware, New Jersey, and Pennsylvania, as well as the coincident indexes for the 50 states.

Analysis: State Employment Data

Mon, 30 Mar 2009 12:30:00 GMT

March 30, 2009 — The Philadelphia Fed today posted an analysis of February's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Analysis: Housing Data

Thu, 26 Mar 2009 12:30:00 GMT

March 26, 2009 — The Philadelphia Fed today posted an analysis of data on regional housing permits for February.

Analysis: Personal Income

Wed, 25 Mar 2009 12:30:00 GMT

March 25, 2009 — The Philadelphia Fed today posted analysis related to data on Fourth Quarter 2008 state personal income recently released by the U.S. Bureau of Economic Analysis.

Analysis: Metropolitan Area Employment

Fri, 20 Mar 2009 12:30:00 GMT

March 20, 2009 — The Philadelphia Fed today posted analysis related to January's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Firms Still See Contraction in Manufacturing

Thu, 19 Mar 2009 14:00:00 GMT

March 19, 2009 — The region's manufacturing sector continued to contract this month, according to firms polled for the March Business Outlook Survey. The survey's general activity index edged up to -35.0 from -41.3 in February. In the special questions, firms were asked to give their production estimates for the second quarter of this year. For an interview with our analyst, contact Katherine Q. Dibling at katherine.dibling@phil.frb.org or 215-574-4119.

Philadelphia Fed Releases Leading Indexes

Tue, 17 Mar 2009 14:00:00 GMT

March 17, 2009 — The Philadelphia Fed today released January's leading indexes for Delaware, New Jersey, and Pennsylvania.

Philadelphia Fed Releases Coincident Indexes

Fri, 13 Mar 2009 14:00:00 GMT

March 13, 2009 — January's coincident indexes for the 50 states were released today.

Analysis: State Employment Data

Thu, 12 Mar 2009 12:30:00 GMT

March 12, 2009 — The Philadelphia Fed today posted an analysis of January's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Speech: Redesigning Financial System Regulation

Fri, 06 Mar 2009 15:00:00 GMT

March 6, 2009 — President Plosser discusses how the regulatory structure must foster financial stability without stifling financial innovation, in his remarks delivered at a conference at New York University. He highlights the following considerations for redesigning financial system regulation: addressing the too-big-to-fail and too-interconnected-to-fail issue; developing systematic and transparent regulatory approaches for dealing with firms that pose systemic risk; and examining the Federal Reserve's future role in ensuring financial stability.

Beige Book Released Today

Wed, 04 Mar 2009 21:00:00 GMT

March 4, 2009 — The Federal Reserve Board of Governors released the Beige Book today. The Beige Book is a summary of anecdotal information on current economic conditions in each of the 12 Federal Reserve Districts.

Speech: Ensuring Sound Monetary Policy in the Aftermath of Crisis

Fri, 27 Feb 2009 18:45:00 GMT

February 27, 2009 — President Plosser suggests three ways to strengthen the Federal Reserve's credibility and its commitment to making sound monetary policy in the aftermath of crisis. See the text of today's speech, presented at the U.S. Monetary Policy Forum in New York City.

Analysis: Housing Data

Fri, 27 Feb 2009 13:30:00 GMT

February 27, 2009 — The Philadelphia Fed today posted an analysis of data on regional housing permits for January.

Analysis: Housing Price Appreciation

Wed, 25 Feb 2009 13:30:00 GMT

February 25, 2009 — The Philadelphia Fed today posted an analysis of Fourth Quarter 2008 statistics on regional house price appreciation released by the Federal Housing Finance Agency (FHFA).

Publication: Banking Legislation & Policy Released Today

Thu, 19 Feb 2009 21:30:00 GMT

February 19, 2009 — The Federal Reserve Bank of Philadelphia today released the Fourth Quarter 2008 Banking Legislation & Policy. This issue covers the domestic and international responses to the financial crisis and developments in accounting.

Firms See Weaker Business Activity

Thu, 19 Feb 2009 15:00:00 GMT

February 19, 2009 — Conditions in the region's manufacturing sector continued to deteriorate this month, according to the firms polled for the February Business Outlook Survey. The general activity index remained negative, decreasing from –24.3 in January to -41.3. In the special questions, manufacturers were asked about inventories.

Industrial Production Numbers Released

Wed, 18 Feb 2009 18:00:00 GMT

February 18, 2009 — The Federal Reserve Board of Governors today released numbers for industrial production and capacity utilization. Industrial production fell 1.8 percent in January. Output was 10 percent below its year-earlier level. Capacity utilization fell 72 percent, 8.9 perentage points below its average from 1972-2008.

Business Conditions Index Updated

Wed, 18 Feb 2009 15:15:00 GMT

February 18, 2009 — The Federal Reserve Bank of Philadelphia's Real-Time Data Research Center has updated the business conditions index.

Dallas Fed: Trimmed Mean PCE

Tue, 17 Feb 2009 17:00:00 GMT

The trimmed mean personal consumption expenditures (PCE) inflation rate for December, released by the Dallas Federal Reserve, was an annualized 1.0 percent. According to the Bureau of Economic Analysis (BEA), the overall PCE inflation rate for November was -5.9 percent, annualized, while the inflation rate for the PCE excluding food and energy was -0.3 percent.

Forecasters Continue to See a Weak Economy

Fri, 13 Feb 2009 15:00:00 GMT

February 13, 2009 — The participants in the first quarter Survey of Professional Forecasters, released today, see weaker conditions in the economy than they did in the fourth quarter 2008 survey.

Analysis: Metropolitan Area Employment Data

Fri, 06 Feb 2009 13:30:00 GMT

February 6, 2009 — The Philadelphia Fed today posted analysis related to December's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Philadelphia Fed Releases Leading Indexes

Tue, 03 Feb 2009 15:00:00 GMT

February 3, 2009 — The Philadelphia Fed today released December's leading indexes for Delaware, New Jersey, and Pennsylvania.

South Jersey Business Survey Released Today

Fri, 30 Jan 2009 17:00:00 GMT

January 30, 2009 — The Federal Reserve Bank of Philadelphia today released the Fourth Quarter 2008 South Jersey Business Survey. The survey's participants are members of the Chamber of Commerce of Southern New Jersey and are business establishments located in the South Jersey region, including Camden, Burlington, and Gloucester counties.

Analysis: Housing Data

Fri, 30 Jan 2009 13:30:00 GMT

January 30, 2009 — The Philadelphia Fed today posted an analysis of data on regional housing permits for December 2008.

Philadelphia Fed Releases Coincident Indexes

Thu, 29 Jan 2009 15:00:00 GMT

January 29, 2009 — December's coincident indexes for the 50 states were released today.

Analysis: Metropolitan Area Employment Data

Wed, 28 Jan 2009 13:30:00 GMT

January 28, 2009 — The Philadelphia Fed today posted analysis related to December's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Firms See Continuing Declines

Thu, 15 Jan 2009 15:00:00 GMT

January 15, 2009 — Manufacturing in the region experienced continuing declines this month, according to respondents to January's Business Outlook Survey. The general activity index remained negative, but it improved to a reading of –24.3 this month revised from –36.1 in December. In the special questions, manufacturers were asked about how problems related to the recent turmoil in credit markets affected them.

President Plosser Outlines Economic Outlook, Policy Challenges

Wed, 14 Jan 2009 13:30:00 GMT

January 14, 2009 — President Plosser provides his economic outlook and discusses the difficulties in conducting monetary policy when the target fed funds rate is near zero. He also outlines some of the challenges created by the Federal Reserve's lending facilities.

Bank Announces 2009 Promotions

Tue, 13 Jan 2009 20:00:00 GMT

January 13, 2009 — The Federal Reserve Bank of Philadelphia today announced executive and officer promotions.

Bank Appoints Payment Cards Center Director

Tue, 13 Jan 2009 20:00:00 GMT

January 13, 2009 — The Federal Reserve Bank of Philadelphia today announced that Robert Hunt is promoted to assistant vice president in the Payment Cards Center and will become the center's director in April.

Bank Publishes Business Conditions Index

Fri, 09 Jan 2009 15:00:00 GMT

January 9, 2009 — The Federal Reserve Bank of Philadelphia's Real-Time Data Research Center will now publish a business conditions index that summarizes a number of key economic indicators. The index and associated commentary will be available on our site shortly after the U.S. government agencies release these indicators.

Analysis: Metropolitan Area Employment Data

Fri, 09 Jan 2009 13:30:00 GMT

January 9, 2009 — The Philadelphia Fed today posted analysis related to November's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Fed Creates Foreclosure Toolkit for Communities

Thu, 08 Jan 2009 22:00:00 GMT

January 8, 2009 — The Federal Reserve has created a toolkit to help communities assess the foreclosures in their area, reach troubled homeowners, and provide support for displaced homeowners. The goal is to provide resources that will help address and minimize foreclosures' impact on neighborhoods.

Manufacturing Survey's Annual Data Revisions Released

Thu, 08 Jan 2009 15:00:00 GMT

January 8, 2009 — Historical data for the Business Outlook Survey have been revised to include new seasonal adjustment factors. Because survey responses exhibit seasonal patterns, new seasonal factors are calculated each year based on the addition of a complete year of data.

Philadelphia Fed Releases Leading Indexes

Wed, 30 Dec 2008 15:00:00 GMT

December 30, 2008 — November's leading indexes for Delaware, New Jersey, and Pennsylvania were released today.

Analysis: Housing Data

Wed, 24 Dec 2008 13:30:00 GMT

December 24, 2008 — The Philadelphia Fed today posted an analysis of data on regional housing permits for November.

Philadelphia Fed Releases Coincident Indexes

Tue, 23 Dec 2008 15:00:00 GMT

December 23, 2008 — November's coincident indexes for the 50 states were released today.

Analysis: State Employment Data

Mon, 22 Dec 2008 13:30:00 GMT

December 22, 2008 — The Philadelphia Fed's Research Department today posted an analysis of November's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Analysis: Third Quarter Income

Fri, 19 Dec 2008 13:30:00 GMT

December 19, 2008 — The Philadelphia Fed today posted an analysis of data on third-quarter state personal income recently released by the U.S. Bureau of Economic Analysis.

Firms See Continued Weakness

Thu, 18 Dec 2008 15:00:00 GMT

December 18, 2008 — Conditions in the region's manufacturing sector continued to deteriorate in December, according to firms polled for December's Business Outlook Survey. The survey's broadest measure of manufacturing conditions, the diffusion index of current activity, improved from -39.3 in November to -32.9 this month.

Bryn Mawr Trust CEO Appointed to Board

Mon, 15 Dec 2008 16:30:00 GMT

December 15, 2008 — The Federal Reserve Bank of Philadelphia today announced the appointment of Frederick C. "Ted" Peters II, chairman and CEO of Bryn Mawr Trust Company, to its board of directors. His three-year term will begin in January 2009. Retired chairman, CEO, and president of PPL Corp., William F. Hecht, and Charles P. Pizzi, Tasty Baking Company president and CEO, were re-appointed board chairman and vice chairman, respectively.

Research Rap: Business Outlook Survey and the Coincident Indexes

Wed, 10 Dec 2008 17:00:00 GMT

December 10, 2008 — In a Research Rap Special Report, Senior Economic Analyst Mike Trebing and Assistant Vice President and Economist Leonard Nakamura show that the Philadelphia Fed's Business Outlook Survey's general activity and shipments indexes provide early information on Pennsylvania's and New Jersey's coincident indexes and those in other large industrial states.

Fourth Quarter Business Review Released

Wed, 10 Dec 2008 17:00:00 GMT

December 10, 2008 — The Philadelphia Fed's Fourth Quarter Business Review includes articles on commitment vs. discretion in monetary policy, using the personal saving rate as a forecasting tool, and demographic trends in Delaware, New Jersey, and Pennsylvania.

New Greenbook Forecasts Are Available

Thu, 04 Dec 2008 15:00:00 GMT

December 4, 2008 — Historical forecasts for the output gap and historical financial assumptions from the Federal Reserve Board's Greenbook are now available on the Philadelphia Fed's Real-Time Data Research Center pages.

Analysis: Metropolitan Area Employment Data

Wed, 03 Dec 2008 13:30:00 GMT

December 3, 2008 — The Philadelphia Fed today posted analysis related to October's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Fed Announces Extension of Three Liquidity Facilities

Tue, 02 Dec 2008 17:00:00 GMT

December 2, 2008 — The Federal Reserve announced today that it will extend three of its liquidity facilities through April 30, 2009. The facilities were originally authorized through January 30, 2009.

Speech: The Financial Tsunami and the Federal Reserve

Tue, 02 Dec 2008 17:30:00 GMT

December 2, 2008 — Federal Reserve Bank of Philadelphia President and CEO Charles I. Plosser today gave an economic outlook, cautioning that its forecasts are more uncertain than usual.

Philadelphia Fed Releases Leading Indexes

Tue, 02 Dec 2008 15:00:00 GMT

December 2, 2008 — The Philadelphia Fed today released October's leading indexes for Delaware, New Jersey, and Pennsylvania.

Analysis: Housing Permits

Fri, 28 Nov 2008 13:30:00 GMT

November 28, 2008 — The Philadelphia Fed today posted an analysis of data on regional housing permits for October.

Analysis: House Price Appreciation

Wed, 26 Nov 2008 13:30:00 GMT

November 26, 2008 — The Philadelphia Fed today posted an analysis of data on regional housing prices for the third quarter of 2008.

Philadelphia Fed Releases Coincident Indexes

Tue, 25 Nov 2008 15:00:00 GMT

November 25, 2008 — October's coincident indexes for the 50 states were released today.

Analysis: State Employment Data

Mon, 24 Nov 2008 13:30:00 GMT

November 24, 2008 — The Philadelphia Fed's Research Department today posted an analysis of October's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Third Quarter Banking Legislation & Policy Released

Thu, 20 Nov 2008 21:30:00 GMT

Firms Say Conditions Continue Deteriorate

Thu, 20 Nov 2008 15:00:00 GMT

November 20, 2008 — Conditions in the region's manufacturing sector continue to deteriorate in November, according to firms polled for the Business Outlook Survey. The general activity index decreased from -37.5 in October to -39.3 In the special questions, firms were asked about their expectations for changes in their firms' production levels in the fourth quarter and for employment over the next six months.

Bernanke Testifies on Liquidity Facilities

Tue, 18 Nov 2008 17:00:00 GMT

November 18, 2008 — In today's testimony before the House Committee on Financial Services, Chairman Bernanke reviewed the results, to date, of TARP (Troubled Assets Relief Program) and other liquidity facilities in normalizing financial markets.

Forecasters See Recession for U.S. Economy

Mon, 17 Nov 2008 15:00:00 GMT

November 17, 2008 — The participants in the fourth quarter's Survey of Professional Forecasters said the U.S. economy has entered or will soon enter a period of recession. The survey also includes forecasts for nonfarm payroll employment, real GDP, and inflation indicators such as the CPI and PCE (personal consumption expenditures) for this quarter and all of 2009. The survey was released today.

Speech: The Economy and Financial Regulatory Reform

Thu, 13 Nov 2008 17:30:00 GMT

November 13, 2008 — Federal Reserve Bank of Philadelphia President and CEO Charles Plosser gives an economic outlook and discusses regulatory reform in today's speech before The Economics Club of Pittsburgh.

Banks Urged to Meet Borrowers' Needs

Wed, 12 Nov 2008 17:00:00 GMT

November 12, 2008 — The regulatory agencies today jointly issued guidance to banking organizations on lending, strengthening capital, and structuring compensation. The agencies also are encouraging banks to negotiate workouts with struggling mortgage holders.

Restructuring of Financial Support to AIG

Mon, 10 Nov 2008 17:00:00 GMT

November 10, 2008 — The Federal Reserve Board and the U.S. Treasury have announced the restructuring of the government's financial support to the American International Group (AIG) in order to keep the company strong and facilitate its ability to complete its restructuring process successfully.

Podcast: Standards in Economic Education

Fri, 07 Nov 2008 17:00:00 GMT

November 7, 2008 — In this episode of “Moments in Money and Economics,” Federal Reserve Bank of Philadelphia Economic Education Advisor Andrew Hill talks about the National Voluntary Content Standards in Economics and how he uses them to develop lesson plans for teachers.

Federal Reserve to Maintain Two Check Operations Sites

Thu, 06 Nov 2008 17:00:00 GMT

November 6, 2008 — The Federal Reserve Banks announced today that because of sharp declines in check volumes, processing operations will be handled in only two locations. By year's end 2009, processing of paper checks will be consolidated into the Cleveland Fed. The Atlanta Fed will perform all electronic processing, but the date for consolidation has not yet been determined. This announcement updates previously announced plans for checks consolidation.

Consumer Alert: Fraudulent Loan Scheme

Tue, 04 Nov 2008 17:00:00 GMT

November 4, 2008 — The Federal Reserve Board has issued a press release alerting consumers to questionable solicitations that promise consumers access to personal loans through a nonexistent Federal Reserve lending program. The Federal Reserve is advising consumers that it has no involvement in these solicitations and does not directly sponsor consumer lending programs.

Financial Institutions Continue to Tighten Lending Standards

Tue, 04 Nov 2008 17:00:00 GMT

November 4, 2008 — The percentage of participants in the October Senior Loan Officer Opinion Survey that reported tightening lending standards increased from the July survey. The survey is taken every three months.

Speech: Bernanke Discusses Future of Mortgage Finance

Fri, 31 Oct 2008 16:00:00 GMT

October 31, 2008 — Chairman Bernanke discusses the future of mortgage finance in the United States at the UC Berkley/UCLA symposium on mortgage meltdown, the economy, and public policy.

Analysis: Employment Data by MSA

Thu, 30 Oct 2008 14:00:00 GMT

October 30, 2008 — The Philadelphia Fed today posted analysis related to September's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

FOMC Lowers Fed Funds Target Rate

Wed, 29 Oct 2008 18:45:00 GMT

October 29, 2008 — The Federal Open Market Committee decided today to reduce the fed funds target rate by 50 basis points to 1 percent. See the statement .

Philadelphia Fed Releases Leading Indexes

Wed, 29 Oct 2008 14:00:00 GMT

October 29, 2008 — The Philadelphia Fed today released September's leading indexes for Delaware, New Jersey, and Pennsylvania.

Analysis: Housing Permits

Tue, 28 Oct 2008 14:00:00 GMT

October 28, 2008 – The Philadelphia Fed today posted analysis related to data on regional housing permits for September.

Poverty, People, and Place

Fri, 24 Oct 2008 15:43:10 GMT

October 24, 2008 — A new report takes an in-depth look at areas of concentrated poverty across the country, presenting 16 case studies produced by the Community Affairs Offices of the Federal Reserve System and the Brookings Institution's Metropolitan Policy Program.

Philadelphia Fed Releases Coincident Indexes

Thu, 23 Oct 2008 14:00:00 GMT

October 23, 2008 — September's coincident indexes for the 50 states were released today.

Analysis: Employment Data

Wed, 22 Oct 2008 12:30:00 GMT

October 22, 2008 — The Philadelphia Fed's Research Department today posted an analysis of September's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Fed Announces New Liquidity Facility

Tue, 21 Oct 2008 16:30:00 GMT

October 21, 2008 - The Federal Reserve Board has announced the creation of the Money Market Investor Funding Facility, which will support a private-sector initiative designed to provide liquidity to U.S. money market investors. Read the press release.

Mortgage Lenders Will Report Certain Rate Spreads in 2009

Tue, 21 Oct 2008 12:30:00 GMT

October 21, 2008 - Beginning next year, under a revision to the Home Mortgage Disclosure Act (HMDA), mortgage lenders will be required to report certain spreads between the APR and the market-based average of prime mortgage rates.

Speech: Strategic Risk Management in an Interconnected World

Mon, 20 Oct 2008 21:00:00 GMT

October 20, 2008 — Federal Reserve Governor Randall S. Kroszner today discussed the importance of developing strategic risk management frameworks, especially in light of the recent financial crisis. See the speech.

Agencies Promote Use of Treasury, FDIC Programs

Mon, 20 Oct 2008 17:10:00 GMT

October 20, 2008 — Regulatory agencies encourage eligible financial institutions to use the Treasury's Capital Purchase Program and the Federal Deposit Insurance Corporation's (FDIC) Temporary Liquidity Guarantee Program. See the FAQ for financial institutions.

Testimony: Fed Actions, the Economy, and Fiscal Policy

Mon, 20 Oct 2008 15:35:00 GMT

October 20, 2008 — In Chairman Bernanke's testimony before a congressional budget committee, he summarized the Federal Reserve's actions designed to help mitigate the financial crisis, gave an economic outlook, and offered guidance on fiscal policy.

Banks Permitted to Recognize Tax Relief for Fannie Mae, Freddie Mac Losses in Third Quarter Regulatory Statements

Fri, 17 Oct 2008 20:40:00 GMT

October 17, 2008 — The federal banking and thrift regulatory agencies announced today that they will allow banks, bank holding companies, and thrifts that have suffered Fannie Mae and Freddie Mac losses to recognize the effect of the tax change enacted in Section 301 of the Emergency Economic Stabilization Act of 2008 (EESA) in their third quarter 2008 regulatory capital calculations. See the press release.

How to Spend Billions Earmarked to Stabilize Neighborhoods

Fri, 17 Oct 2008 14:40:00 GMT

October 17, 2008 — The Philadelphia Fed today posted the paper "How to Spend $3.92 Billion: Stabilizing Neighborhoods by Addressing Foreclosed and Abandoned Properties.". The paper offers guidance on the best use of funds available under the Neighborhood Stabilization Program created by the Housing and Economic Recovery Act of 2008 for the purpose of assisting states, counties, and cities in their efforts to stablize hard-hit neighborhoods. The discussion paper was written by Alan Mallach, a visiting scholar in the Bank's Community Affairs Department.

Resource: Understanding the Financial Crisis

Thu, 16 Oct 2008 20:30:00 GMT

October 16, 2008 — The Federal Reserve Bank of Philadelphia today launched Financial Crisis Resources, background on how the Fed, the U.S. Treasury, and others are responding to the current financial crisis.

Manufacturers See Sharp Decline in Conditions

Thu, 16 Oct 2008 14:00:00 GMT

October 16, 2008 — Conditions in the region's manufacturing sector deteriorated significantly in October, according to firms polled for the Business Outlook Survey. The general activity index decreased from 3.8 in September to -37.5 this month, its largest one-month decline ever. In the special questions, firms were asked about their access to credit.

Get a Snapshot of Mortgage Conditions

Wed, 15 Oct 2008 16:00:00 GMT

October 15, 2008 — The Federal Reserve Bank of Philadelphia today posted "A Snapshot of Mortgage Conditions with Emphasis on Subprime Mortgage Performance" and "Synopses of Selected Research on Housing, Mortgage, and Foreclosures." These publications are available on the Foreclosure Resource Center's pages.

Cascade: Issues Surrounding Foreclosure

Fri, 10 Oct 2008 19:30:00 GMT

October 10, 2008 — The fall issue of Cascade, the Philadelphia Fed’s community development newsletter, includes an article about the Federal Housing Administration (FHA) and the development of FHAsecure, which offers refinancing to borrowers who are delinquent on non-FHA mortgages. The issue also covers the HOPE NOW alliance and its work with servicers in the housing crisis and other topics associated with foreclosure and subprime lending. View the Fall 2008 issue of Cascade.

Speech: The Limits of Central Banking

Wed, 08 Oct 2008 11:45:00 GMT

October 8, 2008 — President Plosser focuses on the importance of setting reasonable expectations for what a central bank can and cannot do. He emphasizes how over-promising can erode the credibility of a central bank's commitment to meet its goals, whether for monetary policy or financial stability.

Podcast: Economics and Geography Together

Mon, 06 Oct 2008 20:45:00 GMT

October 6, 2008 — Teachers can successfully integrate the teaching of economics and geography because the disciplines cover many of the same topics, such as economic growth and trade. For more about this subject, listen to another Moments in Money and Economics podcast.

Fed Continues to Address Issues in Credit Markets

Mon, 06 Oct 2008 13:35:00 GMT

October 6, 2008 — The Federal Reserve Board today announced that it will begin to pay interest on depository institutions' required and excess reserve balances. This action will give the Federal Reserve greater scope to use its lending programs to address conditions in credit markets while also maintaining the federal funds rate close to the target established by the Federal Open Market Committee. The Board also announced additional actions to strengthen its support of term lending markets.

Analysis: Employment Data by MSA

Wed, 01 Oct 2008 12:30:00 GMT

October 1, 2008 – The Federal Reserve Bank of Philadelphia’s Research Department today released analysis related to August’s employment data by MSA in Delaware, New Jersey, and Pennsylvania.

Philadelphia Fed Releases Leading Indexes

Tue, 30 Sep 2008 14:50:00 GMT

September 30, 2008 – The Philadelphia Fed today released August's leading indexes for Delaware, New Jersey, and Pennsylvania.

Advisory: Information on Recent Federal Reserve Actions

Tue, 23 Sep 2008 19:30:00 GMT

September 23, 2008 - A comprehensive list of links related to recent Federal Reserve actions, including press releases, testimony, and Federal Register notices, is available on the Board of Governors website.

Philadelphia Fed Releases Coincident Indexes

Tue, 23 Sep 2008 14:00:00 GMT

September 23, 2008 – August's coincident indexes for the 50 states were released today.

FYI: Survey of Professional Forecasters Archive Expanded

Tue, 23 Sep 2008 12:30:00 GMT

The Philadelphia Fed has released the full complement of write-ups done for the Survey of Professional Forecasters, beginning with the write-up from the third quarter of 1990. Previously, only surveys dating back to 1998 were available. Each write-up is available in PDF format.

Analysis: Employment Data

Mon, 22 Sep 2008 12:30:00 GMT

September 22, 2008 – The Philadelphia Fed's Research Department today posted an analysis of August's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Analysis: Second-Quarter Income

Fri, 19 Sep 2008 12:30:00 GMT

September 19, 2008 – The Philadelphia Fed today posted analysis related to data on second-quarter state personal income recently released by the U.S. Bureau of Economic Analysis.

Manufacturers Report Improvement

Thu, 18 Sep 2008 14:00:00 GMT

September 18, 2008 - The Philadelphia Fed today released the Business Outlook Survey for September. Indexes for general activity, new orders, and shipments improved from their readings in August. Most of the survey's indicators of future activity moved higher this month, suggesting that the region's manufacturing executives expect growth in their sector over the next six months.

Philadelphia Fed Launches Redesigned Website

Tue, 09 Sep 2008 11:00:00 GMT

September 9, 2008 - The Federal Reserve Bank of Philadelphia today launched its redesigned website. The preview video, posted yesterday, is still available.

Philadelphia Fed Unveils the Foreclosure Resource Center

Tue, 09 Sep 2008 11:00:00 GMT

September 9, 2008 - In conjunction with the launching of its redesigned website, the Federal Reserve Bank of Philadelphia today unveiled a virtual Foreclosure Resource Center, designed to provide information for homeowners, prospective homebuyers, and community groups in order to help prevent foreclosures.

Preview Our Redesigned Website

Mon, 08 Sep 2008 14:00:00 GMT

September 8, 2008 – The Federal Reserve Bank of Philadelphia will launch a redesign of its website tomorrow, Tuesday, September 9, 2008. Get a preview of the redesigned site by viewing a brief video.

Analysis: Metropolitan Area Employment

Fri, 29 Aug 2008 12:30:00 GMT

August 29, 2008 – The Philadelphia Fed today posted analysis related to July's metropolitan area employment data for Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.

Philadelphia Fed Releases Leading Indexes

Thu, 28 Aug 2008 14:00:00 GMT

August 28, 2008 – The Philadelphia Fed today released July's leading indexes for Delaware, New Jersey, and Pennsylvania.

Analyses: Housing Data

Wed, 27 Aug 2008 12:30:00 GMT

August 27, 2008 – The Philadelphia Fed today posted an analysis related to data on regional housing permits for July and another analysis on the second-quarter data for regional house price appreciation.

Philadelphia Fed Releases Coincident Indexes

Tue, 26 Aug 2008 14:00:00 GMT

August 26, 2008 – July's coincident indexes for the 50 states were released today.

Firms Say Business Activity Is Still Weak

Thu, 21 Aug 2008 14:00:00 GMT

August 21, 2008 – Activity in the region’s manufacturing sector remains weak, according to firms polled for the August Business Outlook Survey. The diffusion index of current activity increased slightly from -16.3 in July to -12.7 this month. Other indicators, including new orders, shipments, and employment, were all negative again this month. In the special questions, the manufacturers were asked about their export activities. To participate in the press conference call following the release or for an interview with our analyst, contact Katherine Q. Dibling at 215-574-4119.

Analysis: Regional Employment Data

Mon, 18 Aug 2008 12:30:00 GMT

August 18, 2008 – The Philadelphia Fed's Research Department today posted an analysis of July's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Launch: Real-Time Data Research Center

Wed, 13 Aug 2008 14:00:00 GMT

August 13, 2008 – The Philadelphia Fed's Research Department today launched the Real-Time Data Research Center. The center will facilitate collaborative research using the Bank's real-time data set and its surveys of forecasters. To speak with the center's interim director, Dean Croushore, contact Katherine Dibling at 215-574-4119.

Forecasters Lower Estimates for Growth

Tue, 12 Aug 2008 14:00:00 GMT

August 12, 2008 – The Federal Reserve Bank of Philadelphia today released its third quarter Survey of Professional Forecasters, which reports participants' expectations for economic growth, inflation, and employment. In this survey, forecasters lowered estimates for growth and increased projections for job losses. To speak with the analyst directly, contact Katherine Dibling at 215-574-4119.

Philadelphia Fed Announces Promotions

Thu, 31 Jul 2008 13:00:00 GMT

July 31, 2008 – The Philadelphia Fed has announced the promotion of Arun Jain from vice president to senior vice president of the Bank’s Retail Payments Department and Robert Mucerino from Collateral Management’s national support service manager to Treasury Services officer.

Podcast: History of Central Banking

Thu, 31 Jul 2008 13:00:00 GMT

July 31, 2008 – Philadelphia is the birthplace of central banking in the U.S. It was home to the first and second Banks of the United States. Learn more about the history of central banking by listening to July's Moments in Money and Economics. Also available is our publication History of Central Banking.

Leading Indexes Released Today

Tue, 29 Jul 2008 14:00:00 GMT

July 29, 2008 – The Philadelphia Fed today released June's leading indexes for Delaware, New Jersey, and Pennsylvania. For an interview with an analyst, contact Katherine Dibling at 215-574-4119.

Analysis: Housing Permits

Mon, 28 Jul 2008 12:30:00 GMT

July 28, 2008 – The Philadelphia Fed today posted analysis related to data on regional housing permits for June.

Philadelphia Fed Releases Coincident Indexes

Tue, 22 Jul 2008 14:00:00 GMT

July 22, 2008 – June's coincident indexes for the 50 states were released today.

Speech: Economy, Inflation, and Monetary Policy

Tue, 22 Jul 2008 12:30:00 GMT

July 22, 2008 – Federal Reserve Bank of Philadelphia President and CEO Charles I. Plosser gives his perspective on the economy, inflation, and monetary policy. He discusses what he thinks is likely to evolve over the next 18 months and offers his views on inflation and the importance of inflation expectations.

Analysis: Regional Employment Data

Mon, 21 Jul 2008 12:30:00 GMT

July 21, 2008 –The Philadelphia Fed's Research Department today posted an analysis of June's state employment statistics for Delaware, New Jersey, and Pennsylvania.

Manufacturers Continue to See Decreases

Thu, 17 Jul 2008 14:00:00 GMT

July 17, 2008 – Activity in the region’s manufacturing sector continued to contract in July, according to firms polled for the Business Outlook Survey. The diffusion index of current activity increased slightly from -17.1 to -16.3. In the special questions, the manufacturers were asked if they have passed on cost increases for energy and other raw materials to their customers. For an interview with our analyst, contact Katherine Q. Dibling at 215-574-4119.

The $5 bill, series 2006, is not a misprint

Wed, 16 Jul 2008 18:30:00 GMT

July 16, 2008 – Many rumors are circulating about the new $5 bill being a valuable misprint. The colorized 2006 series $5 bill was printed correctly and is not being recalled by the federal government. Read more about series 2006 and the $5.

Analysis: Employment Data by MSA

Thu, 10 Jul 2008 12:30:00 GMT

July 10, 2008 – The Federal Reserve Bank of Philadelphia’s Research Department today released analysis related to May’s employment data by MSA in Delaware, New Jersey, and Pennsylvania.

Vice President of Public Affairs Appointed

Tue, 08 Jul 2008 14:30:00 GMT

July 8, 2008 – The Federal Reserve Bank of Philadelphia has appointed James S. Ely vice president of the Public Affairs Department. Before this appointment, Ely was vice president of communications for Airgas, Inc., Radnor, Pa.

Cascade Summarizes Bank Conference

Mon, 07 Jul 2008 15:00:00 GMT

July 7, 2008 – Earlier this year, more than 400 people attended the Federal Reserve Bank of Philadelphia’s Reinventing Older Communities: How Does Place Matter? The Spring/Summer issue of the Bank's community development newsletter Cascade, released today, contains summaries of conference speeches and presentations.

Dallas Fed: Trimmed Mean PCE

Mon, 30 Jun 2008 14:30:00 GMT

The trimmed mean personal consumption expenditures (PCE) inflation rate for May, released by the Dallas Federal Reserve, was an annualized 2.4 percent. According to the Bureau of Economic Analysis, the overall PCE inflation rate for May was 5.0 percent, annualized, while the inflation rate for PCE excluding food and energy was 1.4 percent.

Leading Indexes Released Today

Fri, 27 Jun 2008 14:00:00 GMT

June 27, 2008 – The Philadelphia Fed today released May's leading indexes for Delaware, New Jersey, and Pennsylvania. For an interview with our analyst, contact Marilyn Wimp at 215-574-4197.

Philadelphia Fed Analysis: Housing Permits

Thu, 26 Jun 2008 12:30:00 GMT

June 26, 2008 –The Philadelphia Fed today posted analysis related to May's data on regional housing permits recently released by the Census Bureau.

FOMC: Fed Funds Target Rate Still 2 Percent

Wed, 25 Jun 2008 19:00:00 GMT

June 25, 2008 – The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent.

Banking Brief Released Today

Wed, 25 Jun 2008 14:45:00 GMT

June 25, 2008 – The Philadelphia Fed released its First Quarter 2008 Banking Brief. The newsletter analyzes recent banking trends in the tri-state region of Pennsylvania, New Jersey, and Delaware as well as banking developments in the nation.

Philadelphia Fed Releases Coincident Indexes

Tue, 24 Jun 2008 14:00:00 GMT

June 24, 2008 – The coincident indexes for the 50 states were released today. For an interview with our analyst, contact Katherine Q. Dibling at 215-574-4119.

Philadelphia Fed Analysis: State Employment

Mon, 23 Jun 2008 12:30:00 GMT

June 23, 2008 – The Philadelphia Fed today posted analysis related to state employment statistics for Delaware, New Jersey, and Pennsylvania recently released by the Bureau of Labor Statistics.

Philadelphia Fed Analysis: First-Quarter Income

Fri, 20 Jun 2008 12:30:00 GMT

June 20, 2008 – The Philadelphia Fed today posted analysis related to data on first-quarter state personal income recently released by the U.S. Bureau of Economic Analysis.

Firms See Continued Decrease in Activity

Thu, 19 Jun 2008 14:00:00 GMT

June 19, 2008 – Activity in the region’s manufacturing sector continued to contract in June, according to the firms polled for the Business Outlook Survey. The diffusion index of current activity decreased slightly, from -15.6 in May to -17.1. In the special questions, manufacturers were asked about the impact recent cost increases are having on the prices of their finished products, and if they are experiencing shortages or delayed delivery of raw materials. See the news release. For an interview with our analyst, contact Katherine Q. Dibling at katherine.dibling@phil.frb.org.

Fed Sets Up Program for Minority-Owned Banks

Wed, 18 Jun 2008 14:00:00 GMT

June 18, 2008 –The Federal Reserve System today launched Partnership for Progress, an outreach and technical assistance program for minority-owned and de novo institutions. The banks can access these resources by visiting a newly developed website that supports the program.

Podcast: Teaching the Great Depression

Tue, 17 Jun 2008 14:45:00 GMT

June 17, 2008 – Federal Reserve Chairman Ben Bernanke once said: “If you want to understand geology, study earthquakes. If you want to understand economics, study the biggest calamity to hit the U.S. and world economies – the Great Depression.” In June’s Moments in Money and Economics podcast, Andrew Hill talks about a program that trains teachers how to educate their students about the Great Depression and, thus, about economics.

Livingston Survey Released Today

Tue, 10 Jun 2008 14:00:00 GMT

June 10, 2008 – The Philadelphia Fed today released the Livingston Survey. The semi-annual survey summarizes the forecasts of economists from industry, goverment, banking, and academia.

New: Consumer Compliance Outlook

Thu, 05 Jun 2008 22:00:00 GMT

June 5, 2008 – The Federal Reserve Bank of Philadelphia’s Supervision, Regulation and Credit Department today released a new publication: Consumer Compliance Outlook. This quarterly publication includes articles on consumer compliance topics, as well as recent court opinions, regulatory updates, a list of resources, and a calendar of events.

Speech: Focus on Financial Stability

Thu, 05 Jun 2008 16:00:00 GMT

June 5, 2008 – President Plosser discusses growth and innovation in financial markets worldwide and their relation to the central bank's role in maintaining financial stability.

Business Review Released Today

Wed, 04 Jun 2008 19:45:00 GMT

June 4, 2008 – The Philadelphia Fed today released the second-quarter Business Review. This edition includes articles on price differences for goods across countries, liquidity crises, and world income distribution.

Philadelphia Fed Creates New Advisory Council

Tue, 03 Jun 2008 15:45:00 GMT

June 3, 2008 – The Federal Reserve Bank of Philadelphia has created an Economic Advisory Council. Its membership includes the former business council as well as several new appointments.

Analysis: Employment Data by MSA

Tue, 03 Jun 2008 12:30:00 GMT

June 3, 2008 – The Federal Reserve Bank of Philadelphia's Research Department today released analysis related to employment data by Metropolitan Statistical Areas (MSAs) in Delaware, New Jersey, and Pennsylvania. Prior to this release, the Bank posted analysis related to employment data for the three states.

Leading Indexes Released Today

Thu, 29 May 2008 14:00:00 GMT

May 29, 2008 – The Philadelphia Fed today released April's leading indexes for Delaware, New Jersey, and Pennsylvania.

Podcast: Moments in Money and Economics

Wed, 28 May 2008 18:00:00 GMT

May 28, 2008 – The Federal Reserve Bank of Philadelphia today posted May's Moments in Money and Economics. In this podcast, Economic Education Advisor Andrew Hill talks about a summer session for elementary school teachers “Kids and Money: A Professional Development Program for Teachers.” See the news release about this course and other courses for high school and middle school teachers.

Analysis: Housing Permits

Wed, 28 May 2008 12:30:00 GMT

May 28, 2008 – The Philadelphia Fed today posted analysis related to data on regional housing permits for April.

Analysis: Housing Price Appreciation

Fri, 23 May 2008 12:30:00 GMT

May 23, 2008 – The Philadelphia Fed today posted an analysis of first quarter statistics on regional house price appreciation released by the Office of Federal Housing Enterprise Oversight (OFHEO).

SRC Insights Released Today

Wed, 21 May 2008 15:45:00 GMT

May 21, 2008 – The Federal Reserve Bank of Philadelphia today released SRC Insights, which is published by the Bank's Supervision, Regulation and Credit Department. The Second Quarter 2008 edition includes "Supervision Spotlight on Subprime Lending: Lessons Learned and the Regulatory Response," an article by Senior Vice President Michael Collins.

Coincident Indexes Released Today

Tue, 20 May 2008 14:00:00 GMT

May 20, 2008 – The Philadelphia Fed today released the April coincident indexes for the 50 states.

Analysis: Regional Employment Data

Mon, 19 May 2008 12:30:00 GMT

May 19, 2008 – The Philadelphia Fed today posted its analysis of April's regional employment data. The analysis is based on data released by the Bureau of Labor Statistics.

Manufacturers See Continued Weakness

Thu, 15 May 2008 14:00:00 GMT

May 15, 2008 – The manufacturers participating in the Federal Reserve Bank of Philadelphia's Business Outlook Survey saw continued weakness in business activity. However, the general activity index did increase to -15.6 from -24.9 in April. In answers to the special questions, 50 percent said they had experienced difficulty in filling job openings because candidates lacked sufficient qualifications.

Forecasters Focus on Home Prices

Tue, 13 May 2008 14:00:00 GMT

May 13, 2008 – The Federal Reserve Bank of Philadelphia today released its second quarter Survey of Professional Forecasters, which reports participants' expectations for economic growth, inflation, and employment. In this survey, forecasters were also asked to project home prices over the next three years and to indicate when home prices will stop falling.

Banking Legislation and Policy Released

Fri, 09 May 2008 20:30:00 GMT

May 9, 2008 – The first quarter Banking Legislation and Policy was released today. This issue includes discussions of legislation and proposals related to the subprime mortgage market and financial liquidity.

Forecasters Now Classified by Industry

Fri, 02 May 2008 14:00:00 GMT

May 2, 2008 – The Federal Reserve Bank of Philadelphia's Research Department has categorized Survey of Professional Forecasters participants by their association with either a financial services provider or a nonfinancial services provider in order to get a better understanding of how industry affiliation influences projections for economic indicators.

FOMC Lowers Target for Fed Funds Rate

Wed, 30 Apr 2008 20:00:00 GMT

April 30, 2008 – The Federal Open Market Committee decided today to lower its target for the federal funds rate 25 basis points to 2 percent.

Bank's Annual Report Released Today

Wed, 30 Apr 2008 20:00:00 GMT

April 30, 2008 –The Federal Reserve Bank of Philadelphia's annual report for 2007 was released today. It features an essay addressing the question: Is it better for a policymaker to commit to a particular course of action or to approach each situation with unconstrained flexibility? The report also highlights changes in the Bank's checks operation, the Bank's new role in the U.S. Treasury's programs, and plans for a screening facility.

South Jersey Firms See Weak Business Activity

Tue, 29 Apr 2008 19:25:00 GMT

April 29, 2008 –The Federal Reserve Bank of Philadelphia today released the First Quarter 2008 South Jersey Business Survey. The firms polled perceived that conditions in the national, state, and regional economies continued to deteriorate during the first quarter. In the special questions, about 30 percent of the firms surveyed linked a decrease in demand to higher energy prices.

Philadelphia Fed Releases Leading Indexes

Tue, 29 Apr 2008 14:00:00 GMT

April 29, 2008 – The Philadelphia Fed today released the March leading indexes for Delaware, New Jersey, and Pennsylvania.

Special Report: Industry Concentrations

Mon, 28 Apr 2008 19:15:00 GMT

April 28, 2008 – In a Research Rap Special Report, “Industry Concentration in the Tri-State Metropolitan Areas,” Senior Economic Analyst Tim Schiller looks at industry concentration measured by employment and how it can be used to help determine how a local area's economy will fare in response to developments that affect major industries.

Philadelphia Fed Analysis: Housing Permits

Fri, 25 Apr 2008 12:30:00 GMT

April 25, 2008 – The Philadelphia Fed today posted analysis related to the release of data on regional housing permits during the month of March.

Coincident Indexes Released Today

Tue, 22 Apr 2008 14:00:00 GMT

April 22, 2008 – The Federal Reserve Bank of Philadelphia today released the March coincident indexes for all 50 states. For an interview with our analyst, contact Katherine Q. Dibling at katherine.dibling@phil.frb.org.

Analysis: State Employment

Mon, 21 Apr 2008 12:30:00 GMT

April 21, 2008 – The Philadelphia Fed today posted an analysis related to the March state employment statistics for Delaware, New Jersey, and Pennsylvania. The analysis is based on data released by the Bureau of Labor Statistics.

Speech: Monetary Policy and Financial Stability

Fri, 18 Apr 2008 13:30:00 GMT

April 18, 2008 – President Charles I. Plosser today talked about “Monetary Policy and Financial Stability” at a conference hosted by the Global Interdependence Center and Drexel University's LeBow College of Business. In his remarks, Plosser outlined the Federal Reserve's response to turmoil in the financial markets on several fronts, including lowering the fed funds rate and providing additional liquidity.

Manufacturers Report Continued Weakness

Thu, 17 Apr 2008 14:00:00 GMT

April 17, 2008 – Activity in the region's manufacturing sector continued to weaken this month, according to the firms polled for April's Business Outlook Survey. The general activity index decreased this month to -24.9 from -17.4 in March. In the special questions, the manufacturers were asked about changes in demand and capital spending plans since the beginning of this year. See the news release. For an interview with our analyst, contact Katherine Q. Dibling at 215-574-4119 or Robert McCarthy at 215-574-6112.

Speech: Education and Economic Prosperity

Wed, 16 Apr 2008 16:30:00 GMT

April 16, 2008 – President Charles I. Plosser today talked about "Education and Economic Prosperity" at Montgomery County Community College. In his remarks, Plosser emphasized the importance of education and its critical role in the economy.

Coincident Indexes: Recession or Not?

Tue, 15 Apr 2008 17:40:00 GMT

April 15, 2008 – In a Federal Reserve Bank of Philadelphia Research Rap Special Report, a Philadelphia Fed senior economic analyst makes a case for using the 50-state coincident indexes to determine whether a recession has occurred, giving economists a four- to six-month lead before the official announcement from the traditional arbiter of recession timing, the National Bureau of Economic Research.

Podcast: April Is Financial Education Month

Mon, 07 Apr 2008 17:45:00 GMT

April 7, 2008 – In April's “Moments in Money and Economics,” Andrew Hill, economic education advisor, Federal Reserve Bank of Philadelphia, talks about Financial Education month and the importance of teaching our children how to make good financial decisions.

Inspiring Words from Turin, Italy

Thu, 03 Apr 2008 20:15:00 GMT

April 3, 2008 – In "Lessons from Europe," Valentino Castellani, former Mayor of Turin, Italy, and president, Organizing Committee, 2006 Turin Olympic Winter Games, speaks about his city and its successful rebounds from crises, including the loss of the automobile manufacturer Fiat. Castellani also gives his perspective on Philadelphia and its future. This audio was recorded last month during the Philadelphia Fed's conference on Reinventing Older Communities: How Does Place Matter?

New York Fed: Maps Detailing Subprime Data

Tue, 01 Apr 2008 20:15:00 GMT

April 1, 2008 - The Federal Reserve Bank of New York today made available dynamic maps that show conditions and density of owner-occupied subprime mortgage loans for the states, counties, and zip codes in the United States.

Coincident, Leading Indexes Released Today

Tue, 01 Apr 2008 15:00:00 GMT

April 1, 2008 - The leading indexes for Delaware, New Jersey, and Pennsylvania, and the coincident indexes for the 50 states were released today. For an interview with an analyst, contact Katherine Q. Dibling at 215-574-4119.

Fed Continues to Restructure Checks Business

Mon, 31 Mar 2008 17:05:00 GMT

March 31, 2008 – The Federal Reserve Banks today said they will implement plans to consolidate check processing operations sooner than was previously announced. The move is related to the continuing declines in check volume and the accelerating increase in the use of electronic check processing.

Philadelphia Fed Analysis: Regional Employment

Mon, 31 Mar 2008 13:30:00 GMT

March 31, 2008 – The Philadelphia Fed today posted analysis related to employment statistics for Delaware, New Jersey, and Pennsylvania.

Philadelphia Fed Analysis: Fourth-Quarter Income

Fri, 28 Mar 2008 13:30:00 GMT

March 28, 2008 – The Philadelphia Fed today posted analysis related to data on fourth-quarter state personal income recently released by the U.S. Bureau of Economic Analysis.

Fed Speech Focuses on Sound Central Banking

Fri, 28 Mar 2008 11:30:00 GMT

March 28, 2008 – President Charles I. Plosser will focus on some of the principles of sound central banking and why he believes adhering to these principles can enhance the effectiveness of monetary policy in these challenging times.

Philadelphia Fed Analysis: Housing Permits

Thu, 27 Mar 2008 13:30:00 GMT

March 27, 2008 – The Philadelphia Fed today posted analysis related to the release of data on regional housing permits during the month of February.

Audio: Survey Press Conference

Fri, 21 Mar 2008 18:20:00 GMT

March 21, 2008 – Listen to audio of the Business Outlook Survey press conference call.

Manufacturers See Weak Activity

Thu, 20 Mar 2008 15:00:00 GMT

March 20, 2008 - Activity in the region's manufacturing sector showed continued weakness in March, according to firms polled for the Business Outlook Survey. However, the current activity index increased from -24.0 in February to – 17.4. In the special questions, firms were asked about their expectations for changes in production in the second quarter 2008 compared to the first quarter. For an interview with our analyst, contact Katherine Q. Dibling at katherine.dibling@phil.frb.org or 215-574-4119.

FOMC Lowers Target for Fed Funds Rate

Tue, 18 Mar 2008 21:05:00 GMT

March 18, 2008 – The Federal Open Market Committee decided today to lower its target for the federal funds rate 75 basis points to 2-1/4 percent.

Coincident, Leading Indexes Released

Tue, 18 Mar 2008 15:00:00 GMT

March 18, 2008 – The Federal Reserve Bank of Philadelphia released the coincident indexes for the 50 states and the leading indexes for Delaware, New Jersey, and Pennsylvania.

Learn About the New $5

Thu, 13 Mar 2008 19:50:00 GMT

March 13, 2008 – The redesigned $5 bill enters circulation today. Learn all about its security and design features by listening to Federal Reserve Bank of Philadelphia's economic education advisor, Andrew Hill, on "Moments in Money and Economics," a podcast on topics in personal finance and economics.

Analysis: Regional Employment

Wed, 12 Mar 2008 13:30:00 GMT

March 12, 2008 – The Philadelphia Fed today posted analysis related to employment statistics for Delaware, New Jersey, and Pennsylvania.

Grading Higher Education in Our Region

Mon, 10 Mar 2008 19:45:00 GMT

March 10, 2008 – Senior Economic Analyst Tim Schiller evaluates data on individual and social returns to education, looks at college education as a stimulant to local economic growth, and compares the tri-state area with the nation as a destination for college graduates in "Human Capital and Higher Education: How Does Our Region Fare?" in the first-quarter Business Review. (PDF, 182 KB, 11 pages)

Beige Book Available Now

Thu, 06 Mar 2008 15:50:00 GMT

March 6, 2008 – The Federal Reserve Board of Governors posted the Beige Book, which is a collection of anecdotal information on current economic conditions as reported by each of the 12 Federal Reserve Banks. It is published eight times per year. See the Philadelphia Fed's summary at http://www.federalreserve.gov/fomc/beigebook/2008/20080305/3.htm.

Audio: Subprime Mortgage Crisis

Wed, 05 Mar 2008 15:45:00 GMT

March 5, 2008 – Sandra Braunstein, director, Division of Consumer and Community Affairs, at the Federal Reserve Board of Governors, talks about regulations the Federal Reserve is proposing to address egregious practices in mortgage lending. Listen to Keynote Conversations. Braunstein will be giving a presentation on this topic at Reinventing Older Communities: How Does Place Matter? The conference is scheduled for Wednesday, March 26, through Friday, March 28, in Philadelphia. Regular registration is open through Friday, March 14.

Speech: Benefits of Systematic Monetary Policy

Mon, 03 Mar 2008 13:00:00 GMT

March 3, 2008 – President Plosser discusses why monetary policymakers should pursue a more systematic approach in their decision making and highlights how it contributes to a more stable and efficient economy over the long run. See the speech.

Dallas Fed: Globalization

Fri, 29 Feb 2008 16:15:00 GMT

The Federal Reserve Bank of Dallas recently posted "The Globalization of U.S. Business Investment," a staff paper that shows how the pattern of foreign direct investment flows has evolved, examines the sources and destination, documents associated employment and productivity gains, and shows how investment-related sales compare with traditional exports.

Analysis: Housing Permits

Thu, 28 Feb 2008 13:30:00 GMT

February 28, 2008 – The Philadelphia Fed today posted analysis related to data on regional housing permits for January. The Census Bureau releases these data each month.

Analysis: Housing Price Appreciation

Wed, 27 Feb 2008 13:30:00 GMT

February 27, 2008 – The Philadelphia Fed today posted analysis related to quarterly statistics on regional house price appreciation released by the Office of Federal Housing Enterprise Oversight (OFHEO).

Banking Legislation and Policy Released

Tue, 26 Feb 2008 12:35:00 GMT

February 25, 2008 – The Philadelphia Fed has released the fourth-quarter 2007 issue of Banking Legislation and Policy. This publication summarizes and updates pending banking and financial legislation, regulation, and judicial activity at the federal level and for the Third District states (Pennsylvania, New Jersey, and Delaware).

Firms Continue to See Weak Conditions

Thu, 21 Feb 2008 15:00:00 GMT

February 21, 2008 – Activity in the region's manufacturing sector continued to weaken in February, according to firms polled for the Business Outlook Survey. The current activity index decreased this month to -24.0 from -20.9 in January. In responses to special questions about inventories, more than 34 percent reported that current inventories were too high. See the news release and listen to audio of the press conference. For an interview with our analyst, contact Katherine Q. Dibling at 215-574-4119.