The Federal Reserve Bank of Boston is welcoming a total of 11 new members to its three external advisory groups: the New England Advisory Council, the Community Depository Institutions Advisory Council, and the New England Community Development Advisory Council.

The councils provide the Boston Fed leadership with insights into local economies and communities, and on matters of importance across New England.

"The perspectives we get from our external advisory groups are invaluable,” said Jeanne MacNevin, vice president of Corporate Affairs at the Boston Fed. “They amplify the voices – the perspectives – from local communities and industries that are so critical to the Federal Reserve’s First District.”

“We need to hear from them to achieve our mission of helping create a vibrant regional economy,” MacNevin said. “Their insights are truly important to help us do our job better."

Council members represent a mix of private businesses and nonprofit organizations from the six New England states. The following includes short descriptions of each council and information about each new member.

New England Advisory Council (or NEAC)

The NEAC is made up of leaders of small to mid-sized businesses in the First District. It offers policymakers insights into current economic conditions and gives the Bank perspectives on a variety of business variables, including employment, labor-market dynamics, wages, prices, and capital spending.

Learn more about the New England Advisory Council.

Community Depository Institutions Advisory Council (or CDIAC)

The CDIAC provides insights on the economy, lending, and other bank-related activities. The council is comprised of 12 members and represents banks, thrifts, and credit unions with assets of less than $10 billion.

 Learn more about the Community Depository Institutions Advisory Committee.

New England Community Development Advisory Council (or CDAC)

The council includes representatives from the private, public, and nonprofit sectors who inform the Boston Fed president about community development activities, issues, and barriers. The council also conveys community development perspectives to the broader Federal Reserve System. The council offers guidance on how the Bank can better support communities throughout New England.

Learn more about the Community Development Advisory Council.