The Federal Reserve Bank of New York works to promote sound and well-functioning financial systems and markets through its provision of industry and payment services, advancement of infrastructure reform in key markets and training and educational support to international institutions.
The Outreach and Education function engages, empowers and educates the Second District communities that the Bank serves, especially civic leaders, students, educators, small business owners, policymakers and the general public. It furthers the Bank's commitment to the region by listening to the communities we serve and leveraging our unique attributes to positively impact school and university programs, as well as analysis and research.
Area: Markets Title: Policy & Market Analysis Senior Associate Education: Ph.D. from Utrecht University
Why the Fed?
I've long been interested in monetary economics and policy (who isnt?!), so Ive always wanted to work at a central bank. Since I was a "Fed watcher before, this is a refreshing change of perspective. Not to mention that my doctoral thesis is about how central bank communication impacts the financial markets—so where else was I going to go?
I work in the Analytical Development team within the Markets Group. We employ quantitative techniques to develop indicators that are used to monitor the financial markets. They allow us, among other things, to gauge the market impact of monetary policy and Fed communications.
Challenges and Rewards of My Job
Financial markets are always changing, so it is often a challenge to quantify the drivers of prices. Furthermore, such complex analysis often has to be completed quickly to inform upcoming monetary policy decisions. The reward is that the work of Analytical Development is intellectually engaging and our research is used by top Fed officials to help them set policy.
How Is the Fed Unique?
The Federal Reserve is the central bank of the largest economy in the world, so that in itself is unique. This fact is reflected in the constant attention by the markets, the media and, increasingly, the general public. When you work here, you see your employer in the paper every day (even when youre on vacation in China). It really drives home how important the work is that people at the Fed do.