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.
Regional & Community Outreach connects the Bank to Main Street via structured dialogues and two-way conversations on small business, mortgages, and household credit.
Economic Education improves public knowledge about the Federal Reserve System, monetary policy implementation, and promoting financial stability through the Museum and programs for K-16 students and educators, and the community.
Fields of interest Market Microstructure, Financial Intermediation, Monetary Policy
Michael J. Fleming is a Vice President in the Capital Markets Function of the Research and Statistics Group at the Federal Reserve Bank of New York. His primary research interests are market microstructure, financial intermediation, and monetary policy. Recent work examines Federal Reserve liquidity provision during the financial crisis, high-frequency liquidity dynamics in the Treasury market, and trading activity and price transparency in derivatives markets. Michael joined the New York Fed as an economist in 1994. He received a Ph.D. in Business Economics from Harvard University in 1994 and a B.A. in Economics from Colby College in 1988.