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Board of Governors of the Federal Reserve System
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Monetary Affairs 

The Division of Monetary Affairs supports the Board and the Federal Open Market Committee (FOMC) in their monetary policy deliberations by preparing research and analysis in the fields of finance, money and banking, and monetary policy design and implementation. The Division also assists the Board and FOMC in preparing policy communications, maintains records of FOMC deliberations and decisions, and produces monetary and financial data. In addition, the Division contributes to the Board’s supervisory, regulatory, and financial stability functions.

Monetary Studies

The Monetary Studies section undertakes theoretical and applied research in macro, monetary, and financial economics. Most of the research is at the macroeconomic level--looking at issues related to the design of monetary policy strategies, such as optimal policy rules, policymaking under uncertainty, and the optimal use of alternative policy instruments.

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Last update: February 1, 2016