The Federal Reserve Bank of Philadelphia, also known as the Philadelphia Fed or the Philly Fed, is one of the twelve Federal Reserve Banks of the United States. It is responsible for the Third District of the Federal Reserve System, which encompasses eastern and central Pennsylvania, the nine southern counties of the states New Jersey, and Delaware. The district is headquartered in Philadelphia. 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 Anna Louise Paulson.
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. It also publishes a quarterly publication entitled Business Review. The bank took responsibility for the Livingston Survey in 1990; its website provides the survey's releases, documentation, mean and median forecasts, and individual responses.
Board of directors
The following people serve on the board of directors as of July 2023. Terms expire on December 31 of their final year on the board.