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Federal Reserve Bank of Philadelphia

October 09, 2017 9:50 AM | Theresa Boyce (Administrator)

On Thursday morning, we sat down with Patrick Harker, CEO of the Philadelphia Federal Reserve. Pat took a few minutes to share a top-line view of the economy and the local Greater Philadelphia region. The remaining hour was a fascinating discussion that ranged from talent mismatch with company hiring needs to levels of student debt and the concern about many state debt levels. Pat mentioned a couple studies. The links to those are: 

Investing in America’s Workforce study: 

https://www.philadelphiafed.org/-/media/community-development/publications/special-reports/investing-in-americas-workforce/iaw-report-on-workforce-development-needs-and-opportunities.pdf

And the Apprenticeship Guide: 

https://www.philadelphiafed.org/community-development/publications/special-reports/apprenticeship-guide

This was an off the record conversation with Pat Harker, a fellow leader, not a statement coming from the Federal Reserve, so I won’t summarize the content in detail. This was not video taped for CEOs who could not attend.  

After the meeting, we had private tours of the underground vault. It was an experience and interesting. We marveled at the sophisticated machinery, and at the same time, it seemed quaint, as much of the process seems unchanged in many years. One surprise for me, was the distinct and recognizable smell of money, somewhat overwhelming at the beginning of the tour, fading as we moved to the area where the bills were sorted and repackaged to go back out into circulation. Of course the security and locked down nature of the operation was impressive.

A well spent morning.