James J. McAndrews is an executive vice president and head of the Research and Statistics Group at the Federal Reserve Bank of New York. In this role Mr. McAndrews is responsible for the briefings in support of the Bank president’s participation in Federal Open Market Committee (FOMC) meetings and for the economic and financial policy analysis prepared by the Group. Mr. McAndrews has played a prominent role in the New York Fed’s financial stability efforts, including contributing to the design of several liquidity facilities during the financial crisis.
Mr. McAndrews joined the Bank as a senior economist in 1997 and was named an executive vice president in 2010, after having served as associate director of the Research and Statistics Group since 2009. He is a member of the Bank’s Management Committee.
Mr. McAndrews’ main research area is the economics of money and payments. He has written extensively on topics in monetary policy implementation, the liquidity of banks and markets, and monetary arrangements in U.S. history. Recent topics include the economics of dealer banks, the management of central bank liabilities and fire sales in securities’ markets. He has analyzed and provided advice on many policy issues related to those areas for the Federal Reserve.
Mr. McAndrews has served as a consulting economist to the Bank of Japan, the Bank of England, the Reserve Bank of Australia, the Swedish Riksbank and the World Bank.
Mr. McAndrews holds a bachelor’s degree and a doctorate degree in economics from the University of Iowa.