Annual Report
2024 Annual Report
15 May ’25
In our 2024 Annual Report, we look back on some of our key research and outreach initiatives from the year. As part of a special video message, President Patrick T. Harker reflects on some of the Philadelphia Fed’s accomplishments and milestones, and First Vice President Jeanne R. Rentezelas writes about our commitment to serving the Third District.
Message from President Patrick T. Harker
At the core of the Philadelphia Fed’s impact is a commitment to listening — to the people and communities we serve and to the data we gather and analyze. It is central to our work because ultimately, a strong and stable economy benefits all of us. The opportunities are endless when we collaborate and build partnerships across the Third District, the Federal Reserve System, and the nation.
Read more about our impact and watch this video in which President Harker looks back on a decade of leadership at the Philadelphia Fed.
Letter from First Vice President Jeanne R. Rentezelas
2024 was a year of consistency. Our focus was on achieving our dual mandate, serving our communities, supporting our employees, and striving to maintain our position as a Systemwide leader. Read more about our impact in the Third District and across the Federal Reserve System.
Exploring how workers can reach their fullest individual potential is an area of significant research at the Philadelphia Fed. In 2024, we updated the Occupational Mobility Explorer to include data on 600+ job titles across 500 U.S. regions. Published December 5, 2024.
From investigating increasing rental costs to exploring the risks and opportunities of manufactured housing, our researchers provided important insights about the housing sector in the Third District and across the nation. Published September 26, 2024.
Senior Advisor and Research Fellow Tom Akana discusses how the new survey from our Consumer Finance Institute adds context and depth to the understanding of consumer behavior. Published April 18, 2024.
Andrew Hill, assistant vice president of Economic Education, talks about the Philadelphia Fed’s work to support economic education across the Third District and the nation. Published October 23, 2024.
Meet Our Leadership, Board, and Councils
We rely on the strength of our employees and senior leaders as well as the expertise of our board of directors and advisory councils, whose insight and guidance help us carry out our mission of service to the Third District and the nation.
Financial Statements
Read the audited annual financial statements of the Federal Reserve Bank of Philadelphia as of and for the years ended December 31, 2024, and December 31, 2023, as well as the Board of Governors’ Statement of Auditor Independence here.
Annual Report Archives
Pictured in cover image: aerial view of Lewes, Delaware