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
Fintech Innovations in Banking: Fintech Partnership and Default Rate on Bank Loans
WP 25-21 – We explore whether banks could leverage data and technology to expand their customer base without taking on more credit risk. Previous studies have not explored the impact of fintech partnerships on the quality of banks’ loan portfolios.
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
17 Jul ’25
An index designed to track real business conditions at high observation frequency
Article
Understanding Job Growth
Economic Insights — Even seemingly healthy job growth might hide weaknesses in the economy if a large portion of that growth happens in acyclical sectors such as health care and government.
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.
Report
Monetary Policy Report: Using Rules for Benchmarking, June 2025
This special report highlights ongoing work to benchmark the stance of monetary policy using a range of policy rules that are widely employed in studies of monetary economics.
Event
Oct
3-4
2025
Frontiers in Machine Learning and Economics: Methods and Applications – 2025
The University of Chicago Booth School of Business | Chicago
Data
Fujita, Moscarini, and Postel-Vinay Employer-to-Employer Transition Probability
11 Jul ’25
Fujita, Moscarini, and Postel-Vinay Employer-to-Employer Transition Probability tracks the rate at which U.S. workers transition from one employer to another in a given month.
Working Paper
International Currency Dominance
WP 25-20 – We propose a model of the international monetary system. Our model allows us to study how macroeconomic fundamentals and government policies can lead to the emergence of a dominant currency.
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.