May 23, 2019 — 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 5/18/2019.
May 22, 2019 — During a commencement speech to 2019 graduates of Rutgers University–Camden, Philadelphia Fed President Patrick T. Harker talked about the quality of resilience. “That’s an advantage that puts you 10 yards ahead of everyone else,” he said. “That’s your superpower.” Read the speech.
May 22, 2019 — The Bank has released the April state coincident indexes, which measure current economic activity in each of the 50 states. This month’s coincident indexes suggest expansion in 46 states over the past three months. Read the report.
May 21, 2019 — The First Quarter 2019 Banking Brief, which analyzes recent banking trends in the tri-state region as well as banking developments in the nation, has been released. Read the latest Banking Brief.
May 21, 2019 — Responses to the May Nonmanufacturing Business Outlook Survey lightly moderated but continued to suggest expansion in nonmanufacturing activity in the region. The diffusion index for current general activity at the firm level decreased from 39.2 in April to 28.1 in May. The survey’s indexes for future activity improved somewhat, suggesting that firms expect growth to continue over the next six months. Read the report.
May 20, 2019 — Philadelphia Fed President Patrick T. Harker gave remarks focusing on technology, automation, and the importance of human insight at Management Science’s 65th Anniversary Conference in Boston. “In my experience, you run into trouble when you start thinking your model can do all the work,” he said. Read the speech.