New England Region

About Us

New England Region

The Boston Fed’s work depends on understanding New England’s economic opportunities and challenges. We rely on research, data, and community engagement across the First District to give us insights into the region’s economy and the lives of the people and organizations that shape it.

Note: This map shows the 12 regional Reserve Banks of the Federal Reserve System.

Connecticut

Economic centers span Connecticut, from Hartford to the north, to New Haven, New London, and the coastal communities connecting them on its southern edge. The state’s location between Boston and New York drives economic opportunity and growth. Its longstanding strengths include insurance, financial services, advanced manufacturing, healthcare, and life sciences. Aerospace and defense are at the core of its historical manufacturing base.

Maine

Maine is New England’s largest state by area, and a diverse mix of coastline, mountains, forests, and farms cover its tens of thousands of square miles. Commerce is centered in the Portland area, and a naval shipyard has operated in Kittery since 1800. To the north, small towns and cities like Stonington, Vinalhaven, and Rockland make up the base of the nation’s largest lobster industry. The state’s other traditional industries remain vital and include forest products, outdoor recreation, education, tourism, and food and agriculture.

Massachusetts

Massachusetts is New England’s most populous state and the region’s largest economy. Greater Boston is the hub of its economic life and a global center of higher education, healthcare, life sciences, finance, technology, and research. Its major sports teams – the Red Sox, Patriots, Celtics, and Bruins – are global entertainment and cultural draws. Worcester, Springfield, and other smaller cities and towns from east to west support sectors including manufacturing and agriculture. The state’s long coastline is a base for tourism and a centuries-old maritime industry.

New Hampshire

New Hampshire’s economy is shaped by small cities to the south, the lakes region at the center, and the rural and mountain communities to the north. Advanced manufacturing and technology businesses have taken root in cities with long industrial pasts, including Manchester and Nashua. Portsmouth is a commercial hub on the state’s short but busy coastline. Dartmouth to the west hosts renowned higher education and health care centers. The state also relies on its established small business, tourism, and outdoor recreation sectors.

Rhode Island

Vermont

Vermont’s economy is closely tied to its rural communities, small cities, and natural landscape. Burlington is the largest commercial center in a state where 99% of all businesses are small businesses. Vermont’s specialties include agriculture, tourism, and outdoor recreation. Manufacturing, healthcare, education, renewable energy, and software and technology also drive the state’s economy. Its lengthy borders with New York and Canada make it a conduit for regional and international trade.

Connecting with New England

The Boston Fed engages with the people, businesses, and communities of New England through research, initiatives, conferences, conversations, and partnerships. These efforts deepen our understanding of the region’s economy and the issues that matter most.

President and CEO Susan M. Collins travels throughout New England to connect directly with employers, workers, educators, nonprofit leaders, and community organizations. These conversations complement the economic data and research she reviews as a Federal Open Market Committee participant, and they help inform her monetary policymaking and perspectives on the national economy.

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Montpelier, Vt.Randolph, Vt.White River Junction, Vt.

March 3, 2023

Boston Fed President and CEO Susan M. Collins heard from residents from across New England at a Fed Listens event. The goal was to learn about the impacts of monetary policy on everyday people. Among the questions: How were they being affected by economic uncertainty and inf...

Photo of Susan Collins listening to roundtable attendee.

Concord, N.H.Manchester, N.H.

May 24, 2023

A visit to a child care center in New Hampshire highlighted a big challenge facing the U.S. child care system. Boston Fed President and CEO Susan M. Collins met the director in a classroom the center was forced to close due to staffing shortages.

Warwick, R.I.

May 30, 2023

Boston Fed President and CEO Susan Collins’ first visit to a college during her tenure came at the Community College of Rhode Island. Collins told the students they weren’t just building a more prosperous future for themselves, but for the entire economy.

Photo of Susan M. Collins getting to listen to a roundtable discussion.

Hamden, Conn.Hartford, Conn.New Haven, Conn.

April 22, 2024

What persistent barriers are preventing some New Englanders from realizing their full economic potential? Boston Fed President and CEO Susan M. Collins heard answers to that question when she met with community and nonprofit leaders from across Connecticut.

Photo of Susan M. Collins at Moose Prints Gallery & Gifts.

Bangor, MEBiddeford, MEMillinocket, ME

July 19, 2024

Aquaculture, outdoor sports, and renewable energy were a few of the industries Boston Fed President and Susan M. Collins heard about when she travelled to Maine to hear how residents are working to revitalize local economies.

Photo of Susan M. Collins at the Small Business Advocates Roundtable with coalition members of the Business Empowerment Alliance of Rhode Island (BEARI) and Skills RI.

Newport, R.I.Providence, R.I.

August 9, 2024

Newport is famous as a playground for the rich. It’s also a city were more than 1 in 10 residents live below the poverty line. During a trip to Rhode Island, Boston Fed President and CEO Susan M. Collins got a glimpse of the economic realities in Newport and around the state...

Worcester, Mass.

October 9, 2024

Boston Fed President Susan M. Collins gave her economic outlook and emphasized that collaboration was essential for resurgence in local economies. Business leaders shared their concerns about the lack of housing for workers and the difficulties attracting and retaining labor...

Photo of Susan M. Collins asking questions about the tubes during her tour in the facility.

Springfield, Vt.Rutland, Vt.South Burlington, Vt.

October 15, 2024

Springfield, Vermont, was once a defense-industry hub. Today, it’s working to redevelop the factory sites that were once its economic center. Boston Fed President and CEO Susan M. Collins visited the town as part of a trip aimed at learning how Vermont’s economy is evolving.

Wide shot of the roundtable discussion in Hartford, Connecticut.

Groton, Conn.Hartford, Conn.

February 21, 2025

How can manufacturers address shortages of skilled workers? One answer is to train the potential workers themselves, starting in high school. Boston Fed President and CEO Susan M. Collins learned about one such effort by submarine maker Electric Boat during a trip to Connect...

The Boston Fed's Susan M. Collins delivers opening remarks during the Bank's 2025 FedListens event at the Hannah Grimes Center for Entrepreneurship in Keene, NH. May 20, 2025.

Keene, N.H.Brattleboro, Vt.West Dover, Vt.

May 22, 2025

Photo of Susan M. Collins and Governor Adriana Kugler walking to the Idea Lab located in Fitchburg, MA.

Fitchburg, Mass.

October 1, 2024

Boston Fed President and CEO Susan M. Collins was joined on a tour of the former mill city of Fitchburg by Adriana Kugler, a member of the Federal Reserve’s Board of Governors. They heard from city leaders about efforts to make the city a center for arts and culture.

Manchester, N.H.

March 27, 2025

Boston Fed President Susan M. Collins makes her way to Manchester, N.H. -- touring Velcro's R&D-driven facility, walking through downtown shops, and engaging local business leaders. The visit highlighted the city's industrial reinvention and the weight of economic uncertaint...

Photo of Susan M. Collins tour of the Clam Fields.

Bar Harbor, MECalais, MEPerry, ME

August 12, 2025

Boston Fed President Susan M. Collins travelled along the Maine coast, meeting with residents from Perry, Calais, and Portland. She heard about economic concerns related to child care access, health care, and inflation, and she spoke with Passamaquoddy tribal leaders about e...

Karen Pennell and Susan M. Collins walking with MBTA Officials to catch the Southcoast Commuter Rail to Fall River, MA.

Fall River, Mass.New Bedford, Mass.Barnstable, Mass.

June 27, 2025

Boston Fed President Susan M. Collins and First Vice President Karen Pennell traveled on the new South Coast Rail to gather economic perspectives from local leaders in southeastern Massachusetts. Community members emphasized critical challenges – including a lack of affordab...

A photograph of small business owners talking at the Hope and Main round table discussion.

Providence, R.I.Chepachet, R.I.

October 7, 2025

When Boston Fed President Susan M. Collins visited Rhode Island, she heard from major employers in Chepachet on the potential of AI, while labor leaders in Providence shared how rising costs are affecting their members. Collins also met with local entrepreneurs at a food ser...

A photograph of the Clarkdale Orchards Farm giant apple in Deerfield, MA.

Springfield, Mass.Deerfield, Mass.Greenfield, Mass.

March 6, 2026

Boston Fed President Susan M. Collins and First Vice President Karen Pennell traveled to western Mass. to speak with nonprofit and small business leaders about rural economic conditions. Collins also delivered the keynote address at the Springfield Regional Chamber’s “Outloo...

Map of New York, New Jersey, Providence, Connecticut, and Massac

New England Economic Data & Analysis

The Boston Fed’s experts offer insights and increase understanding of the New England economy. Explore data and analysis on regional economic trends and issues.

New England Public Policy Center

The center promotes better public policy in New England by conducting and disseminating objective, high-quality research and analysis of strategically identified regional economic and policy issues.

The Beige Book - First District

Each Federal Reserve Bank gathers anecdotal information on current economic conditions in its District through reports from Bank directors and interviews with key business contacts, economists, market experts, and other sources.

New England Economic Indicators

A data resource that provides current and historical economic data for each of the region’s six states, New England as a whole, and the United States

Data Tool

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New England Economic Conditions

New England Economic Conditions describes conditions in the six New England states, including payroll employment, unemployment and labor force participation, inflation, and housing activity.

Inclusive Payments Resource Center

Offers information to help organizations better understand underbanked populations, the financial services they rely on, and what they value in their payment experiences.

Weekly State-level Economic Conditions

A data resource that provides weekly economic data for each U.S. state.

Data Tool

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Gathering Perspectives: Advisory Councils

Boston Fed advisory councils bring together leaders from a range of industries, organizations, and institutions to share perspectives and expertise on issues relevant to the Bank’s work. Through regular meetings with Bank leaders and staff, council members provide insights that inform our understanding of the economy, financial system, and communities across New England.

Community Depository Institutions Advisory Council (CDIAC)

The Community Depository Institutions Advisory Council represents financial institutions within the First District. Members bring information from their local communities and advise the Boston Fed on the economy, lending conditions, and other issues.

New England Advisory Council (NEAC)

The New England Advisory Council consists of leaders of small- to mid-sized businesses throughout New England. At quarterly meetings, members provide Bank leaders with insights into business conditions and on-the-ground economic realities in the region.

New England Community Development Advisory Council (CDAC)

The New England Community Development Advisory Council provides a forum for representatives of community development organizations to inform the Boston Fed about activities, issues, and barriers to community development in the First District.

Payments Advisory Council

The Payments Advisory Council offers insights on issues affecting the U.S. payments system. Members include officials from leading New England financial institutions and nonbank entities who have demonstrated a strong interest in helping shape the future of the payments system.

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