The FOMC has released a statement detailing its economic outlook as well as its stance on continued accommodative monetary policy. Read the statement.
The pace of activity in the region's nonmanufacturing sectors slowed in January, according to firms responding to this month's Nonmanufacturing Business Outlook Survey. The diffusion index for current activity at the firm level decreased from 47.5 in December to 8.8 in January, its lowest reading since February 2014. Read the report.
William Wood, chairman, president, and CEO of CBT Financial Corporation and Clearfield Bank & Trust Company, was appointed to the Bank's Community Depository Institutions Advisory Council. The council shares insights about economic and business trends facing community depository institutions in their local markets. Read the press release.
The Federal Reserve Banks of Philadelphia, New York, Atlanta, and Cleveland jointly released findings from their Small Business Credit Survey. The survey provides information on the business conditions and financing needs of small businesses from a 10-state coverage area and gives state-level data for Georgia, New York, Ohio, and Pennsylvania. Read the report.
Manufacturing activity grew at a slower pace in January, according to firms responding to the latest Manufacturing Business Outlook Survey. The diffusion index of current activity decreased from a revised reading of 24.3 in December to 6.3 this month. Read the report. Listen to the audio conference.
President Charles Plosser gives his views on economic growth, inflation, and employment. He also discusses several core principles of sound central banking that have guided his thinking and approach to monetary policy. Read the speech.
The Bank's annual survey of members of the Greater Philadelphia Chamber of Commerce reported improved business conditions last year compared with 2013. Members are also optimistic that conditions will continue to improve in 2015. Read the report .
The Bank has released the annual revisions to the historical data that are generated by the Manufacturing Business Outlook Survey, which asks manufacturing executives in the Third District about business activity in their firms every month. In January of each year, the Bank revises the data after calculating new seasonal adjustment factors. View the revised historical data.
Jon Evans, president and CEO of Atlantic Community Bankers Bank in Camp Hill, PA, and Carol J. Johnson, president and COO of AlliedBarton Security Services in Conshohocken, PA, were elected to the Bank's board of directors. Read the press release.
The Philadelphia Fed has updated its monthly Tri-State Tracking series that provides statewide summaries of economic conditions using monthly and quarterly data of employment, housing, and personal income. Read the reports for Delaware , New Jersey , and Pennsylvania .
The Bank has released the "Monetary Policy Report: Using Rules for Benchmarking," which highlights ongoing work to benchmark the stance of monetary policy using a range of robust policy rules. Read the report.
The new installment of Cascade focuses on a range of affordable housing issues such as renters’ housing costs, the preservation of affordable rental housing in the Third District, and a PSE&G program that finances energy improvements in multifamily buildings. The issue also includes coverage of a research study on housing alternatives for homeless families and the housing repair programs Habitat for Humanity and Rebuilding Together. Read Cascade.
A monthly survey of manufacturers in the Third Federal Reserve District.
A monthly survey of nonmanufacturers in the Third Federal Reserve District.
Combine four state-level indicators to summarize current economic conditions in a single statistic.
Predict the six-month growth rate of the state's coincident index.
Designed to track real macroeconomic activity at high frequency. Last updated on January 22, 2015.