Federal Reserve Bank of Philadelphia News

Federal Reserve Bank of Philadelphia President Charles Plosser spoke Saturday with The Wall Street Journal's Brian Blackstone in Eltville, Germany.

In a post-crisis economy where monetary policymakers are forced to think and act outside the box, using traditional models to guide policy decisions poses many challenges, a top Federal Reserve official said Friday.

Gillian Tett of the Financial Times serves as the keynote speaker for the evening at The Valley Club in Montecito Dennis Lockhart, left, president of the Federal Reserve Bank of Atlanta, Charles Plosser, president of the Federal Reserve Bank of Philadelphia, David Altig, senior vice president at the Federal Reserve Bank of Atlanta and John ... (more)

The Toronto stock market closed little changed Thursday as energy and gold stocks advanced after worries about the future of the eurozone pushed commodity prices to multi-month lows this week.

The Dow Jones industrial average has its 11th loss in 12 days after a pair of discouraging economic reports and as investors worried about Greece's possible exit from euro.

Updated: 12:32 p.m. ET. Stocks were falling for a fifth straight day as worries about the domestic economy offset decent earnings from Wal-Mart Stores and the interest in Facebook's initial public offering.

The Dow Jones industrial average fell for the 11th time in 12 days after a pair of discouraging economic reports came as investors worried about Greece's possible exit from euro.

Oil fell to a six-month low as investors speculated Spanish banks may have their credit ratings lowered and an American gauge of manufacturing trailed projections, bolstering concern that economic growth will slow.

Manufacturing activity contracted in the mid-Atlantic region in May for the first time in eight months.

An employee welds a specialized metal product in the shop at the Amuneal Manufacturing Corp.

The Federal Reserve Bank of Philadelphia is minutes away from releasing its monthly survey of business activity, a key gauge of conditions in the mid-Atlantic region.

The employment picture in the Pennsylvania-Delaware-New Jersey region seems to be picking up, though at a pace that lags the rest of the nation, Consumers are still confused about checking account overdraft penalty fees.

The U.S. economy's gradual recovery still warrants the Federal Reserve 's supportive policy stance, but potential inflationary pressures may well call for a withdrawal of accommodation sooner than expected, a top Fed official said Tuesday.

Federal Reserve Bank of Philadelphia president Charles Plosser said Tuesday that he expects to see "stabilization and maybe slight improvement" for housing in 2012.