Philadelphia Council for Business Economics ("PCBE") primary objectives are:

Provide a convenient way for meeting business professionals in the Greater Philadelphia area.

To have programs and speakers on topics of special interest to business professionals.

To offer a vehicle to universities, community organizations, and other professional groups to contact local business professionals on programs and activities of mutual interest.

Our Upcoming Events 02/08/12 "Headwinds Diminish… Tailwinds Develop" Mark Zandi, Chief Economist Moody's Analytics 03/07/12 "Municipal Securities Outlook" Thomas Doe, CEO, Municipal Market Advisors John Mousseau, Managing Director, Cumberland Advisors 04/11/12 "Economic Outlook" John Silvia, Chief Economist Wells Fargo Securities 05/02/12 "Construction Industry Outlook" Kenneth D. Simonson, Chief Economist Associated General Contractors of America

Recent Meeting Speaker Notes 01/11/12 "Forces Influencing New Jersey Migration" Charles Steindel, Chief Economist, NJ Treasury Dept 11/02/11 Jack Bogle President, Bogle Financial Markets Research Center Founder of The Vanguard Group, Inc. 10/05/11 "The US Economic Outlook: Searching for Firmer Footing" Ellen Zentner, Executive Director Senior Economist, Nomura Securities 09/14/11 "Current Market Risks and Drivers" Shayan Hussain, CFA - BlackRock Director - Fixed Income Product Specialist

Today's Economic Events 10:00AM Jan Conference Board Employment Trends Index: 104.32 Prior Period

Latest Economic News 02/03/12 ISM Non-Manufacturing Index grew faster at 56.8% 02/03/12 New orders for manufactured goods increased 1.1% 02/03/12 January Employment rose by 243,000 Unemployment Rate drops to 8.3% 02/02/12 DJ-BTMU U.S. Business Barometer Declined 0.6% 02/02/12 4Q Productivity Growth Increased 0.7% 02/02/12 Weekly initial unemployment claims decrease 12,000 to 367,000

Federal Reserve Board Speech 02/02/12 Testimony by Chairman Bernanke on the economic outlook and the federal budget situation 02/01/12 Testimony by Kevin M. Bertsch, Associate Director, Division of Banking Supervision and Regulation, on banking supervision 01/18/12 Testimony by Governor Tarullo on the Volcker rule 01/16/12 Speech by Governor Duke on the journey from community banker to central banker 01/13/12 Speech by Governor Duke on opportunities to reduce regulatory burden and improve credit availability 01/07/12 Speech by Governor Raskin on creating and implementing an enforcement response to the foreclosure crisis

Federal Reserve Press Release 01/31/12 Agencies issue guidance on junior lien loan loss allowances 01/31/12 Federal Reserve Board issues enforcement actions 01/26/12 Federal Reserve Chairman to deliver lecture series to college students 01/25/12 Federal Reserve Board and Federal Open Market Committee release economic projections from the January 24-25 FOMC meeting 01/25/12 Federal Reserve issues FOMC statement of longer-run goals and policy strategy 01/25/12 FOMC Statement