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Keith R. Phillips

Assistant Vice President, San Antonio Branch
Federal Reserve Bank of Dallas

Keith Phillips

Keith Phillips joined the Federal Reserve Bank of Dallas in January 1984. His areas of concentration include regional economics and economic forecasting. Phillips developed business-cycle indexes for Texas and its major metro areas, which he uses to analyze business conditions in those regions. He is a contributing member of the Western Blue Chip Economic Forecasting Group, where he has been the most accurate Texas forecaster for eight out of the past thirteen years. His research and analysis have been covered in media such as CNN, The News Hour with Jim Lehrer, USA Today, Business Week, The Wall Street Journal, The New York Times, MSNBC and in media throughout Texas.

In August 1996, Phillips was transferred to the San Antonio Branch in an effort to improve the regional economic coverage of the Dallas office and to better serve the needs of the South Texas community. He teaches courses in econometrics and forecasting at Trinity, Incarnate Word and St. Mary’s universities. He also teaches courses in managerial economics in the executive MBA program at UTSA. He obtained his PhD in economics from Southern Methodist University and holds a BA and MA in economics and a bachelor of journalism degree in news/editorial from the University of Missouri at Columbia.


Curriculum Vitae


  • Assistant Vice President, Research Officer, Senior Economic Policy Advisor, Senior Economist and Policy Advisor, Senior Economist, Economist: Federal Reserve Bank of Dallas, San Antonio Branch, August 1989–present.
  • Assistant Economist, Associate Economist: Federal Reserve Bank of Dallas, May 1987–July 1989
  • Economic Analyst: Research Department, Federal Reserve Bank of Dallas, January 1984–April 1987
  • Adjunct Professor: Trinity, Incarnate Word and St. Mary’s Universities and the Executive MBA program at UTSA, San Antonio, TX, Fall 2000–present.
  • Chartered Financial Analyst program in association with Brookhaven College, Fall 1985
  • Graduate Teaching Assistant: Economics Department, University of Missouri, Columbia, MO, January 1983–January 1984


  • PhD in Economics, Southern Methodist University, Dallas, TX, December, 2003
  • MA, University of Missouri, Columbia MO, December 1983
  • Bachelor of Journalism, University of Missouri School of Journalism, Columbia, MO, December 1981
  • BA,University of Missouri, Columbia, MO, December 1981

Selected Papers

Noted Achievements

  • Western Blue Chip Economic Forecast - Most accurate job growth forecaster for Texas for 1995, 1996, 1997, 1998, 2002, 2003, 2004.
  • Created, with Frank Berger, a two-step seasonal adjustment process that subsequently was used by the Bureau of Labor Statistics to seasonally adjust the employment data for all 50 states.
  • Interviewed on the “The NewsHour with Jim Lehrer” and CNN.
  • Often quoted in national and regional media.

Community Positions

  • Member, Finance San Antonio Committee, City of San Antonio, 2005–06
  • Chairman, Economic Analysis Panel, The Greater San Antonio Chamber of Commerce, 1999.
  • President, San Antonio Business and Economics Society, September 1999–August 2001.
  • Board Member, San Antonio Business and Economics Society, September 2001–present.
  • Panel Member, Western Blue Chip Economic Forecast


Keith Phillips