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: Macroeconomic and Monetary Studies, Research and Statistics Group Title: Research Associate Education: University of Pennsylvania
How Is the Fed Unique?
As a recent graduate, I am a fortunate to be working for an institution where I can both learn about and contribute to monetary policy especially in current times. The Fed's role in the U.S. and global economies has been integral, and to be given the chance to work on extremely relevant research projects has helped me comprehend the complex economic and financial systems while helping me decide on a career path. Over the last year, I have met many colleagues whose collaborative and intellectual rigor have allowed me to grow professionally.
I assist and work with Ph.D. economists who perform research work and policy analysis. I often contribute to producing presentations or briefings given to the Bank president and senior management, or at external research conferences. A big part of my job also involves programming in statistical packages to perform econometric analysis for the economists research papers.
Challenges and Rewards of My Job
One of the biggest rewards as a research associate (RA) is being able to work with other great RAs and prominent economists. A lot of trust is given to us. The amount of work that each of us does is usually determined on our own initiative. I think this is also a challenge, but in a good way, because it allows me to evaluate myself. It is a positive incentive to make sure that I am working as hard as I can.