March 2, 2015 — The board of directors of the Philadelphia Fed has announced that Patrick T. Harker, 56, currently president of the University of Delaware and a member of the Philadelphia Fed's board of directors, has been named the Bank's 11th president and CEO, effective July 1, 2015. Harker, who has served as a nonbanking Class B director of the Philadelphia Fed for the past three years, will succeed Charles I. Plosser, who retired effective March 1, 2015. Read the press release.
March 2, 2015 — The Federal Reserve Bank of Philadelphia’s Real-Time Data Research Center has updated the ADS business conditions index with information on real personal income less transfer payments for January 2015 and real manufacturing and trade sales for December 2014.
February 27, 2015 — The Federal Reserve Bank of Philadelphia’s Real-Time Data Research Center has updated GDPplus for the U.S. Bureau of Economic Analysis's release today of quarterly data from the national income and product accounts.
February 27, 2015 — The Federal Reserve Bank of Philadelphia’s Real-Time Data Research Center has updated the ADS business conditions index with information on real GDP for the fourth quarter of 2014 (second release).
February 26, 2015 — Responses from 61 service providers to low- and moderate-income households in the region suggest that economic conditions for their clients were stabilizing in the fourth quarter of 2014 relative to the third quarter, according to the Bank’s Fourth Quarter 2014 Community Outlook Survey. This stabilization coincides with the largest reported improvement in job availability since the survey began in 2011. Read the report.
February 26, 2015 — The Federal Reserve Bank of Philadelphia’s Real-Time Data Research Center has updated the ADS business conditions index with information on initial jobless claims for the week ending 2/21/2015.
February 24, 2015 — Activity in the region's nonmanufacturing sectors increased in February, according to firms responding to this month's Nonmanufacturing Business Outlook Survey. The diffusion index for current activity at the firm level increased from 8.8 in January to 51.0 this month, its highest reading since June 2014. Read the report.
November 14, 2014 — In the interest of helping the Federal Reserve Bank of Philadelphia conduct a broad search for its next president, executive search firm Korn Ferry has established an e-mail address to receive inquiries: PhiladelphiaFedPresident@KornFerry.com. The Philadelphia Fed announced earlier that it has retained the services of executive search firm Korn Ferry to conduct the search for its new president and CEO.
President Charles I. Plosser, 66, who has served as the Bank's president since August 2006, will retire effective March 1, 2015. The Bank will conduct a broad search and consider a diverse group of candidates from inside and outside the Federal Reserve System.