The Federal Reserve Bank of Boston announced on Apr. 7 that it is welcoming 10 new members to its three external advisory councils: the New England Advisory Council, the Community Depository Institutions Advisory Council, and the New England Community Development Advisory Council.
These councils bring together leaders from private businesses, community organizations, and nonprofits across the six New England states. Their role is to provide real-time insights into economic conditions, challenges, and opportunities in their sectors and regions. This input helps inform the Boston Fed’s work supporting a healthy regional economy.
“External advisory councils are vital because they give us direct access to the experiences of people and organizations throughout New England,” said Carlos Rincon, senior community development analyst at the Boston Fed. “Their perspectives help us spot trends early, understand challenges more deeply, and ensure our work reflects what communities are actually facing – not just what the data shows.”
The New England Advisory Council consists of leaders from small and mid-sized businesses who offer perspectives on employment trends, labor market activity, wages, pricing, and capital investment. The Community Depository Institutions Advisory Council includes representatives from banks, thrifts, and credit unions with assets under $10 billion who discuss economic issues and lending practices. The New England Community Development Advisory Council brings together public-, private-, and nonprofit-sector members to advise on community development matters for both the bank president and wider Federal Reserve System.
The Federal Reserve Bank of Boston supports community revitalization through research initiatives as part of its broader mission within the U.S. Federal Reserve System according to its official website. It fosters economic stability in New England by monitoring local conditions for monetary policy formulation while overseeing banking activities across all six states in its district according to information provided by the institution. Susan Collins has served as President and CEO since July 2022 according to official records.
Looking ahead, these council appointments aim to strengthen communication between local communities and policymakers as part of ongoing efforts by the Boston Fed to promote economic growth regionally and nationally.
