 Federal Reserve Seal | |
 Headquarters | |
| Headquarters | 10 Independence Mall Philadelphia, Pennsylvania, USA |
|---|---|
| Established | May 18, 1914 |
| President | Patrick T. Harker |
| Central bank of | Third District
|
| Website | philadelphiafed.org |
| The Federal Reserve Bank of Philadelphia is one of 12 regional banks that make up the Federal Reserve System | |
The Federal Reserve Bank of Philadelphia — also known as the Philadelphia Fed or the Philly Fed — headquartered at 10 Independence Mall in Philadelphia, Pennsylvania, is responsible for the Third District of the Federal Reserve, which covers eastern and central Pennsylvania, the nine 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 Patrick T. Harker.[1]
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.[2] It also publishes a quarterly publication entitled Business Review.[3] The Federal Reserve Bank of Philadelphia also publishes the Livingston Survey and the Greenbook data sets.[citation needed]
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