For immediate release

Contact: Rachel Brown, Media Relations, 215-574-3840

Philadelphia, PA — The Federal Reserve Bank of Philadelphia has appointed three new members to its Economic and Community Advisory Council (ECAC), a committee that informs the Bank’s senior leadership team about emerging issues and market conditions in the Third Federal Reserve District and nationwide. The new members are Terri Kelly, president and CEO of W. L. Gore & Associates, Inc.; Sharmain Matlock-Turner, president and CEO of the Urban Affairs Coalition; and Donald F. Schwarz, vice president, program, for the Robert Wood Johnson Foundation.

“The Economic and Community Advisory Council brings together leaders with essential perspectives on our regional and national economies,” said Deborah L. Hayes, senior vice president of Corporate Affairs at the Federal Reserve Bank of Philadelphia. “The new councilmembers come to the table with a deep understanding of corporate, consumer, and health trends in the Third District and beyond, helping us build cross-sector collaboration and foster economic growth in the communities we serve.”

The ECAC, originally created in 2008, was enhanced in 2016. It is composed of up to 15 leaders representing businesses of varying sizes and in different industry sectors as well as nonprofit organizations, philanthropic organizations, academic institutions, the public sector, and organized labor. The ECAC extends partnerships with organizations from the private and public sectors and fosters greater integration and collaboration to have a broader impact on the Third Federal Reserve District and to encourage economic growth.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is 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 and central Pennsylvania, southern New Jersey, and Delaware.