Federal Reserve Bank of Philadelphia

Highlights

Federal Open Market Committee (FOMC) Releases Economic Outlook and Policy Statement

The FOMC has released a statement detailing its economic outlook as well as its stance on continued accommodative monetary policy. Read the press release.
Speech: Reducing Financial Fragility by Ending Too Big to Fail

President Charles Plosser discusses why large financial firms and their creditors should not be shielded by government guarantees or by regulatory discretion. He proposes simpler approaches to capital requirements and resolution that can offer more effective and less complex solutions to ending too big to fail. Read the speech.
Leading Indexes Suggest Expansion in 45 States into the Fourth Quarter

The Bank has released April's leading indexes, which are a six-month forecast of the state coincident indexes. The coincident indexes measure current economic activity in each of the 50 states. This month's leading indexes suggest economic expansion in 45 states into the fourth quarter. Read the report.
Survey: LMI Households Experience Better Job Availability, Worsened Financial Conditions

Service providers to low- and moderate-income (LMI) households in the region report that job availability for their clients improved for the third consecutive quarter, according to the Bank’s First Quarter 2013 Community Outlook Survey. At the same time, these service providers see worsened financial conditions for their clients. Read the survey.
April's Coincident Indexes Show Increased Economic Activity in 45 States

The Bank has released the coincident indexes, which measure current economic activity in each of the 50 states. In April, the indexes increased in 45 states; over the past three months, the indexes increased in 47 states. Read the report.
Region’s Manufacturers Report Weakened Business Activity

Manufacturing firms responding to the Bank’s Business Outlook Survey reported weakened business activity. The survey’s index of current activity decreased to -5.2 in May from 1.3 in April. Future indicators suggest that respondents remain optimistic about business activity over the next six months. Read the report. Watch the press conference.
Redesigned $100 Note Goes into Circulation in October

The Federal Reserve Board of Governors has announced that the redesigned $100 note will go into circulation on October 8, 2013. The new $100 notes are more colorful and carry added security features designed to deter counterfeiting. Read the press release. Go to the new money website for more information.