A view of Cornell University's campus.

Workforce & Economic Development


What Is the Anchor Economy Initiative?

Can the Anchor Economy Dashboard help us see the full picture of how anchor institutions impact regional economies? Philadelphia Fed President Patrick Harker sat down with Deborah Diamond, director of the Anchor Economy Initiative, to learn more.

Federal Open Market Committee (FOMC) Releases Statement

The FOMC seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the FOMC decided to raise the target range for the federal funds rate to 4-1/2 to 4-3/4 percent. The FOMC anticipates that ongoing increases in the target range will be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time. In determining the extent of future increases in the target range, the FOMC will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation, and economic and financial developments. In addition, the FOMC will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The FOMC is strongly committed to returning inflation to its 2 percent objective.

Aruoba-Diebold-Scotti Business Conditions Index

An index designed to track real business conditions at high observation frequency


CFI COVID-19 Survey of Consumers Data

To gain insights into the impact of the COVID-19 pandemic on financial security in the U.S., the Consumer Finance Institute at the Federal Reserve Bank of Philadelphia conducted a series of national surveys of consumers beginning in April 2020 and concluding in April 2022.

A view of Jefferson Hospital in Philadelphia, PA.

Anchor Economic Impacts: Third District

Explore the ways economies in southern New Jersey, eastern and central Pennsylvania, and Delaware are tied to higher education institutions and hospitals, otherwise known as anchor institutions.

Cryptocurrency Ownership: Insights from the CFI COVID-19 Survey of Consumers

Since the early 2010s, the rise of so-called cryptocurrencies has received significant attention from financial market participants, policymakers, and academics. Cryptocurrencies are digital or virtual currencies (such as bitcoin, Ethererum, Litecoin, and many others) in which transactions are verified and records are maintained by a decentralized, distributed ledger system using cryptography, rather than by a centralized authority.