Federal Reserve Bank of Boston appoints 11 new members to its external advisory councils

The Federal Reserve Bank of Boston appointed 11 new members to its three external advisory groups, adding business and nonprofit leaders to the New England Advisory Council, the Community Depository Institutions Advisory Council, and the New England Community Development Advisory Council. The councils feed the Bank’s leadership with on-the-ground perspectives on economic and community conditions across New England. The New England Advisory Council brings together leaders of small to mid-sized businesses in the First District to inform policymakers on variables such as employment, labor-market dynamics, wages, prices, and capital spending. The Community Depository Institutions Advisory Council provides insights on the economy, lending, and other bank-related activities and is composed of 12 members representing banks, thrifts, and credit unions with assets under USD 10 billion. The New England Community Development Advisory Council includes private, public, and nonprofit representatives who advise the Boston Fed president on community development activities, issues, and barriers and share those perspectives across the Federal Reserve System.