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Leonard Nakamura is an Emeritus Economist at the Federal Reserve Bank of Philadelphia, where contributions include ongoing research, publishing, and speaking engagements focused on financial economics and economic measurement issues such as intangibles, information flows, and free products. Previously, Leonard held the position of Vice President and Economist at the same institution, leading efforts in monetary policy and bank regulation while heading Regional and Applied Microeconomic research. Leonard began the career as an Economist at Citi from 1978 to 1981. Academic credentials include a PhD in Economics from Princeton University and a BA in Social Sciences from Swarthmore College.