Board of Governors of the Federal Reserve System

The Federal Reserve Board’s Internship Program is designed to provide valuable work experience for undergraduate and graduate students considering careers in economics, finance and accounting, software development, law, and other areas. Each intern will receive a syllabus with three learning objectives from their manager; interns will also have an opportunity to develop three learning objectives of their own. Additionally, most interns will be assigned a mentor, have access to internal training classes, and get to participate in weekly intern-focused events. These events encompass speakers, professional development, as well as networking functions. The work is very hands-on in a collaborative and collegial environment. The Board believes that by combining academic endeavors with project-related work experience, qualified and capable college students can gain the practical knowledge needed in a competitive global job market.

The Divisions of International Finance, Monetary Affairs, Research and Statistics, and Financial Stability offer paid in-residence fellowships for graduate students to conduct research at the Federal Reserve Board.

As research assistants at the Federal Reserve Board, recent graduates will apply quantitative skills both to real-world policy issues and to high-level research projects. Each year, the Board hires a new cohort of college graduates from diverse backgrounds at universities across the country to work as research assistants. Research assistants gain real-world experience by working alongside PhD economists to assist with original economic research and provide critical support for policy analysis. The research assistant position is a two-year program, and most research assistants leave the role well prepared to pursue a graduate degree, often in economics, or different careers at the Board or with other organizations. While at the Board, research assistants often become involved in a variety of other projects, including collaborating with various government agencies and Federal Reserve Banks, and participating in efforts to provide economic and financial literacy instruction to local high school students. Research assistants are encouraged to attend academic research seminars and presentations given by Board economists and visiting scholars.

Research assistants are hired in the following divisions: Reserve Bank Operations & Payment Systems, Supervision & Regulation, Consumer & Community Affairs, Research & Statistics, International Finance, Monetary Affairs, and Financial Stability.