Federal Reserve Bank of Philadelphia Definition
The Federal Reserve Bank of Philadelphia, headquartered in Philadelphia, Pennsylvania, is responsible for the Third District of the Federal Reserve, which covers eastern Pennsylvania, southern New Jersey, and Delaware. The current President of the Philadelphia Fed is Anthony M. Santomero.
The Philadelphia Fed conducts research on both the national and regional economy. Its regional manufacturing index (economics) is the first of the regional manufacturing reports released every month, which makes it very important to the financial community.
Additional meaning of Federal Reserve Bank of Philadelphia: