For immediate release
Contact: Katherine Dibling, 215-574-4119
Philadelphia, Pa. – Beginning Monday, April 9, 2007, the Research Department of the Federal Reserve Bank of Philadelphia will post commentary on its website within one week of the regional data releases, including monthly building permits (Census Bureau) and employment (Bureau of Labor Statistics) and quarterly housing prices as reported by the Office of Federal Housing Enterprise Oversight (OFHEO). (For a calendar of 2007 releases, see below.)
Commentary will include tables and charts incorporating data for Delaware, New Jersey, and Pennsylvania, as well as specific metropolitan statistical areas (MSAs) in the region. The reports will be posted on this website.
“While our quarterly regional economic summaries have been useful, we wanted to increase the timeliness of our responses to regional data. We will post these reports within one week of the releases,” said Tim Schiller, senior economic analyst. Schiller along with Jason Novak, also a senior economic analyst in the Philadelphia Fed Research Department, will produce these reports.
The news releases will replace the Research Department’s quarterly summary of regional economic conditions, Regional Highlights.
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government. One of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.