Federal Reserve Bank of Philadelphia | LinkedIn (original) (raw)

About us

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. Follow us on Twitter: @philadelphiafed

Industry

Financial Services

Company size

501-1,000 employees

Headquarters

Philadelphia, PA

Type

Nonprofit

Founded

1914

Specialties

monetary policy, economic research, bank supervision, and financial services

Locations

Employees at Federal Reserve Bank of Philadelphia

Updates

ALERT: Be aware of potentially fake online job postings that claim to be from the Federal Reserve. Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels.
Careers philadelphiafed.org
The share of active credit card accounts making just the minimum payment hit a 12-year high in Q3 2024, according to the Philadelphia Fed’s Large Bank Credit Card and Mortgage Data. This is one of several signs from the data that credit card performance is deteriorating. The quarterly series, which began in 2012, reports data from the largest financial institutions in the U.S. Data from July to September 2024 show: • Revolving card balances reached a 12-year high of 645billion.Thismeasurehasgrown53645 billion. This measure has grown 53% since it hit a decade low of 645billion.Thismeasurehasgrown53423 billion in Q2 2021. • Both balance-based and account-based credit card delinquency rates were more than double pandemic lows: 3.5% of card balances were 30 or more days past due, compared with 1.6% in Q2 2021, and 1.8% of card accounts were delinquent, compared with 0.7% in Q2 2021. • Mortgage originations remain at more than 12-year lows. Quarterly originations peaked at 219billioninQ32021butwereonly219 billion in Q3 2021 but were only 219billioninQ32021butwereonly63 billion in Q3 2024. https://bit.ly/40pYL1lExplore the data further with our interactive dashboard. https://bit.ly/3Wukqo5
Large Bank Credit Card and Mortgage Data philadelphiafed.org
We're #hiring a new Assistant Examiner II in Philadelphia, Pennsylvania. Apply today or share this post with your network.
Jamahl Oglesby, assistant project manager, is one of the many engineers, construction specialists, and mechanics who help make the Bank a safe and comfortable place to work.#OurPeopleOurStories showcases employees to tell the story of the Philadelphia Fed and celebrate the work we do to improve communities in our region. Learn more. https://bit.ly/4jlPrUX
Today, we honor the legacy of Dr. Martin Luther King Jr. and his tireless work for equality and justice. As we reflect on his dream, let's recommit ourselves to building a more inclusive economy that provides opportunities for all in our communities.
17,836 followers
5d Edited
Adjusting weighting in the Current Population Survey to better reflect the true estimated size of the immigrant population has small impacts on rates but can explain a large portion of the difference between household survey and establishment survey estimates of employment growth. Chris Severen, economic advisor and economist, explains. Read the study. https://bit.ly/42iYoZ0
While the percentage of households in the U.S. without a bank or credit union account has been on the decline since 2015, those that remain unbanked households are reliant on high-cost transactional alternatives, such as check cashing outlets, leaving them at risk of financial insecurity and impeding the development of personal finance skills. In this paper, researchers conduct a detailed exploration of the characteristics associated with the unbanked status of U.S. households and the challenges that remain. Using data between 2015 and 2019, the analysis finds that even as rising incomes drove a decline in the unbanked percentage of population over this period, income remained the most significant differentiator, with strong associations with race and ethnicity also persisting. Read the paper for additional insights. https://bit.ly/4jkMc04 #Unbanked #Underbanked #ConsumerFinance #FinancialLiteracy
Who Remains Unbanked in the United States and Why? philadelphiafed.org
Manufacturing activity in the region increased overall, according to the firms responding to the January Manufacturing Business Outlook Survey. The diffusion index for current general activity jumped from a revised reading of -10.9 in December to 44.3 in January, its highest reading since April 2021. The indicators for new orders and shipments also rose sharply. On balance, the firms continued to indicate overall increases in prices, and both price indexes rose above their long-run averages. The firms also continued to report increasing employment levels. The survey’s broad indicators for future activity rose, suggesting more widespread expectations for growth over the next six months.https://bit.ly/4jn3mKv
17,836 followers
1w Edited
We are pleased to welcome Kisha Hortman Hawthorne, Ph.D., senior vice president and chief operating officer of the Care Network and Behavioral Health & Crisis Center at the Children’s Hospital of Philadelphia, and Brian W. Jones, president and chief executive officer of The First National Bank of Elmer, to the Philadelphia Fed’s board of directors. The nine-member board of directors oversees Bank operations, offers observations on economic conditions, establishes the Bank’s discount rate, and is a link between the Federal Reserve and the communities in the Third District, which includes eastern Pennsylvania, southern New Jersey, and Delaware. Press release: https://bit.ly/3PzYYdu
Originally created by Alaina Barca and colleagues from the Federal Reserve Banks of Philadelphia and Cleveland, the Banking Deserts Dashboard has just been updated. The changes to the dashboard include the release of 2024 banking desert data, and user experience improvements like an underlying base map to better orient users to census tract locations and an overall friendlier user experience. Explore census tract–level data on physical bank branch availability within all 50 states from 2019 to 2024 on the updated dashboard. Learn more and explore the updates: https://bit.ly/3WiqIXI

Join now to see what you are missing

Join now