The Federal Reserve Bank of Philadelphia, headquartered in Philadelphia, Pennsylvania

Pennsylvania

The Commonwealth of Pennsylvania is a U.S. state that is located in the Northeastern and Mid-Atlantic regions of the United States. The state borders Delaware and Maryland to the south, West Virginia to the southwest, Ohio to the west, New York and Ontario, Canada, to the north, and New Jersey to...

, is responsible for the Third District of the Federal Reserve, which covers eastern Pennsylvania, the 9 southern counties of New Jersey

New Jersey

New Jersey is a state in the Northeastern and Middle Atlantic regions of the United States. , its population was 8,791,894. It is bordered on the north and east by the state of New York, on the southeast and south by the Atlantic Ocean, on the west by Pennsylvania and on the southwest by Delaware...

, and Delaware

Delaware

Delaware is a U.S. state located on the Atlantic Coast in the Mid-Atlantic region of the United States. It is bordered to the south and west by Maryland, and to the north by Pennsylvania...

. 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

Federal Reserve Bank of Minneapolis

The Federal Reserve Bank of Minneapolis, located in Minneapolis, Minnesota, in the United States, covers the 9th District of the Federal Reserve, including Minnesota, Montana, North and South Dakota, northwestern Wisconsin, and the Upper Peninsula of Michigan...

). The current President of the Philadelphia Fed is Charles Plosser

Charles Plosser

Charles Irving Plosser is the president of the Federal Reserve Bank of Philadelphia. An academic macroeconomist, he is well known for his work on real business cycles, a term which he and John B. Long, Jr. coined...

.
The Philadelphia Fed conducts research on both the national and regional economy

Economic system

An economic system is the combination of the various agencies, entities that provide the economic structure that defines the social community. These agencies are joined by lines of trade and exchange along which goods, money etc. are continuously flowing. An example of such a system for a closed...

. Its regional manufacturing

Manufacturing

Manufacturing is the use of machines, tools and labor to produce goods for use or sale. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale...

 index

Index (economics)

In economics and finance, an index is a statistical measure of changes in a representative group of individual data points. These data may be derived from any number of sources, including company performance, prices, productivity, and employment. Economic indices track economic health from...

 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

Statistical survey

Survey methodology is the field that studies surveys, that is, the sample of individuals from a population with a view towards making statistical inferences about the population using the sample. Polls about public opinion, such as political beliefs, are reported in the news media in democracies....

 of professional economic forecasters

Economic forecasting

Economic forecasting is the process of making predictions about the economy. Forecasts can be carried out at a high level of aggregation - for example for GDP, inflation, unemployment or the fiscal deficit - or at a more disaggregated level, for specific sectors of the economy or even specific...

, the Survey of Professional Forecasters

Survey of Professional Forecasters

The Survey of Professional Forecasters, also called, The Anxious Index, is a highly predictive report on the prospects for the Economy of the United States issued quarterly by the Federal Reserve Bank of Philadelphia. "The Survey of Professional Forecasters is the oldest quarterly survey of...

, also called "The Anxious Index". It is a highly predictive report on the prospects for the Economy of the United States.
The Federal Reserve Bank of Philadelphia additionally publishes a quarterly publication entitled Business Review.

Current Board of Directors

The following people serve on the board of directors as of 2011: All terms expire December 31.

Class A

Class A

Name	Title	Term Expires
Frederick "Ted" C. Peters	Chairman and Chief Executive Officer Bryn Mawr Trust Company Bryn Mawr, Pennsylvania Bryn Mawr, Pennsylvania Bryn Mawr from Welsh for "big hill") is a census-designated place in Lower Merion Township, Montgomery County, Pennsylvania, just west of Philadelphia along Lancaster Avenue and the border with Delaware County...	2011
Aaron L. Groff, Jr.	Chairman, President and Chief Executive Officer Ephrata National Bank Ephrata, Pennsylvania Ephrata, Pennsylvania Ephrata is a borough in Lancaster County, Pennsylvania, United States, south east of Harrisburg and about west by north of Philadelphia. It is named after Ephrath, a biblical town in what is now Israel. Ephrata's sister city is Eberbach, Germany, the city where its founders originated. In its...	2012
R. Scott Smith	Chairman and Chief Executive Officer Fulton Financial Corporation Fulton Financial Corporation Fulton Financial Corporation is a U.S. regional financial services holding company, headquartered in Lancaster, Pennsylvania.Fulton Financial Corp. has $16.6 billion in assets, operates 8 affiliates with 271 banking centers providing financial services throughout Pennsylvania, Maryland, Delaware,... Lancaster, Pennsylvania Lancaster, Pennsylvania Lancaster is a city in the south-central part of the Commonwealth of Pennsylvania. It is the county seat of Lancaster County and one of the older inland cities in the United States, . With a population of 59,322, it ranks eighth in population among Pennsylvania's cities...	2010

Class B

Class B

Name	Title	Term Expires
Michael F. Camardo	Retired Executive Vice President Lockheed Martin ITS Cherry Hill, New Jersey Cherry Hill, New Jersey Cherry Hill is a township in Camden County, New Jersey, in the United States. As of the 2010 United States Census, the township had a population of 71,045, representing an increase of 1,080 from the 69,965 residents enumerated during the 2000 Census...	2011
Deborah M. Fretz	President and Chief Executive Officer Sunoco Logistics Partners Philadelphia, Pennsylvania Philadelphia, Pennsylvania Philadelphia is the largest city in the Commonwealth of Pennsylvania and the county seat of Philadelphia County, with which it is coterminous. The city is located in the Northeastern United States along the Delaware and Schuylkill rivers. It is the fifth-most-populous city in the United States,...	2012
Keith S. Campbell	Chairman Mannington Mills, Inc. Salem, New Jersey Salem, New Jersey Salem is a city in Salem County, New Jersey, United States. As of the United States 2010 Census, the city population was 5,146. It is the county seat of Salem County, the most rural county in the state of New Jersey. The name Salem is related to the Hebrew word shalom, meaning "peace".The town and...	2013

Class C

Class C

Name	Title	Term Expires
Charles P. Pizzi (Chair)	President and Chief Executive Officer Tasty Baking Company Philadelphia, Pennsylvania Philadelphia, Pennsylvania Philadelphia is the largest city in the Commonwealth of Pennsylvania and the county seat of Philadelphia County, with which it is coterminous. The city is located in the Northeastern United States along the Delaware and Schuylkill rivers. It is the fifth-most-populous city in the United States,...	2011
James E. Nevels	Chairman The Swarthmore Group Philadelphia, Pennsylvania Philadelphia, Pennsylvania Philadelphia is the largest city in the Commonwealth of Pennsylvania and the county seat of Philadelphia County, with which it is coterminous. The city is located in the Northeastern United States along the Delaware and Schuylkill rivers. It is the fifth-most-populous city in the United States,...	2012
Jeremy Nowak (Deputy Chair)	President and Chief Executive Officer The Reinvestment Fund Philadelphia, Pennsylvania Philadelphia, Pennsylvania Philadelphia is the largest city in the Commonwealth of Pennsylvania and the county seat of Philadelphia County, with which it is coterminous. The city is located in the Northeastern United States along the Delaware and Schuylkill rivers. It is the fifth-most-populous city in the United States,...	2013

External links and further reading

• The Philadelphia Fed's home page
• A map of the third district