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Lobby of the Federal Reserve Bank of Philadelphia. The lobby features a 25 foot (7.6 m) tall tower filled with shredded U.S. currency.
The Federal Reserve Bank of Philadelphia, headquartered in Philadelphia, Pennsylvania, is responsible for the Third District of the Federal Reserve, which covers eastern Pennsylvania, southern New Jersey, and Delaware. The current President of the Philadelphia Fed is Charles Plosser.
The Philadelphia Fed conducts research on both the national and regional economy. Its regional manufacturing index is the second of the regional manufacturing reports released every month (the New York Fed's Empire State Index is now released earlier), but it is still very important to the financial community as a proxy for nationwide manufacturing conditions.
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