Market Microstructure, Financial Intermediation, Monetary Policy
Michael Fleming is the head of Capital Markets Studies within the Financial Stability Policy Research Division. His primary research interests are market microstructure, financial intermediation, and monetary policy. His recent work examines Federal Reserve liquidity provision during the financial crisis, trading activity and price transparency in derivatives markets, high-frequency liquidity and pricing dynamics in the Treasury market, and the evolution of liquidity in fixed income 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. He has taught fixed income at NYU Stern.
Michael Fleming's CV