The Federal Reserve Bank of Philadelphia's March business-activity index showed expansion, while economists had expected contraction.
Following those announcements, the Federal Reserve Bank of Philadelphia with report on January manufacturing activity.
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"I share the frustration of many with the pace of recovery, " Federal Reserve Bank of Philadelphia President Charles Plosser said.
The bright spot in the report from the Federal Reserve Bank of Philadelphia was that indicators of future activity actually improved.
By incorporating Google searches into forecasting models, the researchers were able to outperform predictions conducted by the Federal Reserve Bank of Philadelphia.
Business conditions for mid-Atlantic manufacturers remain barely positive this month, as the Federal Reserve Bank of Philadelphia's index of general business activity slowed in April from March.
Satyajit Chatterjee at the Federal Reserve Bank of Philadelphia and Felicia Anamaria Ionescu at Colgate University recently published a paper examining the possible market for student loan insurance.
While the headline of this post may come as a surprise to many, it was the exact sentiment conveyed by Federal Reserve Bank of Philadelphia President Charles Plosser on Tuesday, September 25.
Moreover, the outlook for growth in the U.S. economy looks weaker now than it did three months ago, according to a survey of 48 professional forecasters by the Federal Reserve Bank of Philadelphia released in August.
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Federal Reserve Bank of Philadelphia president Charles Plosser said in Italy Thursday that the central banks of the world cannot create wealth and said central banks do not have the tools to fix the present economic and financial problems in the major industrialized countries.
In another recent paper Marina Azzimonti of the Federal Reserve Bank of Philadelphia, Eva de Francisco of Towson University and Vincenzo Quadrini of the University of Southern California argue that income inequality may have had a troubling effect in this area of finance, too.
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