Dr. Tony Allen appointed to Advisory Council by Federal Reserve

The Federal Reserve Bank of Philadelphia recently announced that it has named Delaware State University President Tony Allen as a new member of its Economic and Community Advisory Council (ECAC).

Dr. Allen was one of two new appointments announced in December. The Federal Reserve Bank also named John E. Harmon Sr., founder/CEO of the African American Chamber of Commerce of New Jersey, to serve on the Council

The ECAC is a committee that informs the bank’s senior leadership team about emerging issues and market conditions in the Third Federal Reserve District and nationwide. The Council is compose of up to 15 leaders representing businesses of varying sizes and in different industry sectors as well as nonprofit organizations, philanthropic organizations, academic institutions, the public sector, and organized labor. The ECAC extends partnerships with organizations from the private and public sectors and fosters greater integration and collaboration to have a broader impact on the Third Federal Reserve District and to encourage economic growth.

The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises state member banks, bank holding companies, and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that along with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Federal Reserve Bank of Philadelphia serves eastern and central Pennsylvania, southern New Jersey, and Delaware.