The Economy
We produce and compile research and data on the overall economy, banking and financial markets. Our goal is to help financial institutions operate in a safe manner and support a robust U.S. financial system.
Working Paper
How Do Large, Sophisticated Cryptocurrency Trades Impact Broader DeFi Market Dynamics?
WP 26-42 – Using transaction-level data for Bitcoin (BTC), Ethereum (ETH), and Wrapped Bitcoin (WBTC) matched to public “Whale Alert” signals, we examine how large-scale cryptocurrency trades shape market microstructure.
Working Paper
The Bronx is Burning: Urban Disinvestment Effects of Fair Access to Insurance Requirements Plans
WP 25-16/R – We study the unintended effects of Fair Access to Insurance Requirements (FAIR) plans developed by 26 states in the 1960s to address insurance redlining in urban neighborhoods.
Research
Our Research Department's high-quality academic and original research supports the Federal Open Market Committee (FOMC) and the Bank's leadership as they address economic, finance, and public policy issues.
Aruoba-Diebold-Scotti Business Conditions Index
04 Sep ’26
An index designed to track real business conditions at high observation frequency
Working Paper
An Auditable AI Agent Loop for Empirical Economics: A Case Study in Forecast Combination
WP 26-41 – AI coding agents, general-purpose assistants that write and execute code, make empirical specification search fast and cheap, but they also widen hidden researcher degrees of freedom.
COVID-19
COVID-19 and the Philadelphia Fed
Get the Philadelphia Fed’s latest information, resources, and research on the coronavirus pandemic's impact on businesses, households, and communities.
Event
Oct
9-10
2026
2026 Conference on Real-Time Data Analysis, Methods, and Applications
Federal Reserve Bank of Philadelphia
Article
Banking Trends: Who Benefits When Banks Must Share Your Data?
Economic Insights — Open banking boosts fintech competition, helping many but potentially creating risks for privacy and financial stability.
Working Paper
Structural Estimation with Unstructured Data
WP 26-40 – Standard macroeconomic data do not cleanly separate the systematic and nonsystematic components of monetary policy. We show that incorporating unstructured text data into the structural estimation of a DSGE model can sharpen this distinction.
Research
Research Assistant Opportunities for College Graduates
Working as a research assistant at the Philadelphia Fed is a rewarding experience, whichever career path you ultimately choose to pursue.