Finance

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The Federal Reserve Board employs more than 500 researchers, including more than 400 Ph.D. economists, who represent an exceptionally diverse range of interests and specific areas of expertise. Board researchers conduct cutting edge research, produce numerous working papers and notes, and are among the leading contributors at professional meetings and in major journals. Our researchers also produce a wide variety of economic analyses and forecasts for the Board of Governors and the Federal Open Market Committee.

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Field of Interest:

Finance International Economics Macroeconomics Mathematical and Quantitative Methods Microeconomics

Division:

Consumer and Community Affairs Division of Board Members Financial Stability International Finance Monetary Affairs Research and Statistics Reserve Bank Operations and Payment Systems Supervision and Regulation

Finance

Field:

Asset Pricing Banking and Financial Institutions Consumer Finance Corporate Finance Financial Markets Market Microstructure Portfolio Choice Real Estate Risk Management

Job Role:

Robert M. Adams Principal Economist Consumer Finance
Research and Statistics

Elena Afanasyeva Principal Economist Financial and Macroeconomic Stability Studies
Financial Stability

Andrea Ajello Chief Macro-Financial Analysis
Monetary Affairs

Aditya Aladangady Principal Economist Microeconomic Surveys
Research and Statistics

Jeffrey S. Allen Lead Fin Inst Policy Analyst Digital Innovations Studies
Reserve Bank Operations and Payment Systems

Levent Altinoglu Principal Economist Financial and Macroeconomic Stability Studies
Financial Stability

John Ammer Senior Economic Project Manager Program Direction
International Finance

Sriya L. Anbil Group Manager Money Market Analysis
Monetary Affairs

Alyssa G. Anderson Principal Economist Money Market Analysis
Monetary Affairs

Christopher S. Anderson Principal Economist Trading and Capital Markets
Supervision and Regulation

Elliot Anenberg Chief Real Estate Finance
Research and Statistics

Sirio Aramonte Principal Economist Financial Stability Assessment
Financial Stability

David M. Arseneau Assistant Director Program Direction
Financial Stability

Sina T. Ates Principal Economist Emerging Market Economies
International Finance

Anton I. Badev Senior Economist Stress Testing
Supervision and Regulation

Ayelen Banegas Principal Economist Financial Intermediaries Analysis
Monetary Affairs

Kayleigh N. Barnes Economist Consumer Finance
Research and Statistics

Daniel J. Barth Principal Economist Financial Stability Assessment
Financial Stability

William F. Bassett Senior Associate Director Program Direction
Financial Stability

Michael M. Batty Group Manager Flow of Funds
Research and Statistics

Jose M. Berrospide Assistant Director Program Direction
Financial Stability

Carol Bertaut Senior Adviser Program Direction
International Finance

Mehdi Beyhaghi Principal Economist Policy Effectiveness and Assessment
Supervision and Regulation

Vitaly M. Bord Senior Economist Consumer Finance
Research and Statistics

Erik Bostrom Fin Inst Policy Analyst III Money Market Analysis
Monetary Affairs

David Bowman Senior Associate Director Program Direction
Monetary Affairs

Eirik E. Brandsaas Senior Economist Household and Business Spending
Research and Statistics

Kenneth P. Brevoort Principal Economist Consumer and Community Research
Consumer and Community Affairs

Celso Brunetti Assistant Director Program Direction
Research and Statistics

Marco Cagetti Assistant Director Program Direction
Research and Statistics

Cecilia R. Caglio Chief Financial Structure
Research and Statistics

Fang Cai Assistant Director Program Direction
Financial Stability

James A. Caldera Economist Policy Effectiveness and Assessment
Supervision and Regulation

Francesca Carapella Principal Economist Payment System Studies
Reserve Bank Operations and Payment Systems

Mark A. Carlson Adviser Program Direction
Monetary Affairs

Alain Chaboud Senior Economic Project Manager Program Direction
International Finance

Jin-Wook B. Chang Senior Economist Financial Stability Assessment
Financial Stability

Andrew Y. Chen Principal Economist Capital Markets
Research and Statistics

James A. Clouse Deputy Director Program Direction
Monetary Affairs

Andrew M. Cohen Assistant Director Program Direction
Financial Stability

Ricardo Correa Senior Adviser Program Direction
International Finance

Daniel M. Covitz Deputy Director Program Direction
Research and Statistics

Stephanie E. Curcuru Deputy Director Program Direction
International Finance

Erfan Danesh Senior Economist Risk Analysis
Research and Statistics

Matt Darst Principal Economist Macroprudential Policy Analysis
Financial Stability

Michele H. Dathan Senior Economist Global Financial Markets
International Finance

Margaret DeBoer Deputy Associate Director Program Direction
Monetary Affairs

Ahmet Degerli Senior Economist Financial Intermediaries Analysis
Monetary Affairs

Laurie Pounder DeMarco Economic Project Manager Global Financial Institutions
International Finance

Benjamin Dennis Principal Economist Policy Planning and Strategy
Supervision and Regulation

Lisa J. Dettling Principal Economist Fiscal Analysis
Research and Statistics

Daniel A. Dias Principal Economist Financial Institution Risk Evaluation
Financial Stability

Anthony M. Diercks Principal Economist Monetary and Financial Market Analysis
Monetary Affairs

Jennifer L. Dlugosz Principal Economist Financial Structure
Research and Statistics

Dobrislav Dobrev Principal Economist Monetary and Financial Market Analysis
Monetary Affairs

Christine L. Dobridge Principal Economist Flow of Funds
Research and Statistics

Tim E. Dore Principal Economist Flow of Funds
Research and Statistics

John C. Driscoll Principal Economist Consumer Finance
Research and Statistics

Chuan Du Economist Payment System Studies
Reserve Bank Operations and Payment Systems

Fang Du Adviser Program Direction
Supervision and Regulation

Shengwu Du Senior Economist Quantitative Risk Analysis
Reserve Bank Operations and Payment Systems

Ricardo Filipe Duque Gabriel Economist Policy Effectiveness and Assessment
Supervision and Regulation

Burcu Duygan-Bump Associate Director Program Direction
Research and Statistics

Rochelle M. Edge Deputy Director Program Direction
Monetary Affairs

Matthew J. Eichner Director Program Direction
Reserve Bank Operations and Payment Systems

Eric C. Engstrom Associate Director Program Direction
Monetary Affairs

Antonio Falato Senior Economist Macroprudential Policy Analysis
Financial Stability

Albert Fattal Data and Technology Analyst III Program Direction
Research and Statistics

Giovanni Favara Deputy Associate Director Program Direction
Monetary Affairs

Francesco Ferrante Principal Economist Trade and Financial Studies
International Finance

Erin E. Syron Ferris Principal Economist Money Market Analysis
Monetary Affairs

Johannes Fleck Economist Advanced Foreign Economies
International Finance

Nathan Foley-Fisher Principal Economist Systemic Financial Institutions and Markets
Research and Statistics

Joshua Gallin Secretary of the FOMC Program Direction
Monetary Affairs

Daniel I. Garcia Molina Senior Economist Household and Business Spending
Research and Statistics

Geoffrey R. Gerdes Principal Economist Payment System Studies
Reserve Bank Operations and Payment Systems

Michael S. Gibson Director Program Direction
Supervision and Regulation

Stefan Gissler Principal Economist Systemic Financial Institutions and Markets
Research and Statistics

David P. Glancy Principal Economist Banking and Financial Analysis
Monetary Affairs

Jonathan Goldberg Principal Economist Macro-Financial Analysis
Monetary Affairs

Michael B. Gordy Chief Risk Analysis
Research and Statistics

Daniel R. Gorin Lead Supervisory Policy Analyst Policy Analysis
Consumer and Community Affairs

Lynn M. Gottschalk

Senior EconomistFair Lending Enforcement
Consumer and Community Affairs

Olesya V. Grishchenko Principal Economist Monetary and Financial Market Analysis
Monetary Affairs

Li Gu Senior Economist Trading and Capital Markets
Supervision and Regulation

Luca Guerrieri Senior Associate Director Program Direction
International Finance

Arun Gupta Senior Economist Financial Institution Risk Evaluation
Financial Stability

Sinem Hacioglu Hoke Senior Economist Industrial Output
Research and Statistics

Hajime H. Hadeishi Principal Economist Fair Lending Enforcement
Consumer and Community Affairs

Diana Hancock Senior Associate Director Program Direction
Research and Statistics

Sharjil M. Haque Economist Stress Testing
Supervision and Regulation

Nathan W. Heinrich Senior Financial Analyst Systemic Financial Institutions and Markets
Research and Statistics

Erik A. Heitfield Deputy Associate Director Program Direction
Research and Statistics

Sam Hempel Senior Economist Short-Term Funding Markets
Research and Statistics

Akos Horvath Principal Economist Policy Effectiveness and Assessment
Supervision and Regulation

Cooper Howes Senior Economist Household and Business Spending
Research and Statistics

Xin Huang Principal Economist Risk Analysis
Research and Statistics

Samuel K. Hughes Economist Real Estate Finance
Research and Statistics

Yesol Huh Principal Economist Risk Analysis
Research and Statistics

Matteo Iacoviello Senior Associate Director Program Direction
International Finance

Diana A. Iercosan Principal Economist Trading and Capital Markets
Supervision and Regulation

Jane E. Ihrig Senior Adviser Program Direction
Monetary Affairs

Hulusi Inanoglu Principal Economist Trading and Capital Markets
Supervision and Regulation

Sebastian Infante Chief Money Market Analysis
Monetary Affairs

Felicia F. Ionescu Chief Banking and Financial Analysis
Monetary Affairs

Margaret M. Jacobson Senior Economist Monetary Studies
Monetary Affairs

Mohammad R. Jahan-Parvar Principal Economist International Financial Stability
International Finance

Anil K. Jain Principal Economist Global Financial Institutions
International Finance

Ruth A. Judson Senior Economic Project Manager Global Financial Flows
International Finance

Dalida Kadyrzhanova Principal Economist Capital Markets
Research and Statistics

R. Jay Kahn Senior Economist Short-Term Funding Markets
Research and Statistics

John Kandrac Group Manager Financial Structure
Research and Statistics

Gazi I. Kara Chief Financial Stability Assessment
Financial Stability

Benjamin S. Kay Principal Economist Policy Effectiveness and Assessment
Supervision and Regulation

Ritt Keerati Economist Global Financial Flows
International Finance

Rehim Kilic Principal Economist Quantitative Risk Analysis
Reserve Bank Operations and Payment Systems

Don H. Kim Senior Adviser Program Direction
Monetary Affairs

Hyung Joo Kim Economist Quantitative Risk Analysis
Reserve Bank Operations and Payment Systems

Kyungmin Kim Principal Economist Money Market Analysis
Monetary Affairs

You Suk Kim Principal Economist Real Estate Finance
Research and Statistics

Elizabeth K. Kiser Senior Associate Director Program Direction
Research and Statistics

Yuriy Kitsul Principal Economist Global Financial Flows
International Finance

Elizabeth C. Klee Senior Associate Director Program Direction
Financial Stability

Anya V. Kleymenova Manager Stress Testing
Supervision and Regulation

Benjamin Knox Senior Economist Global Financial Markets
International Finance

John R. Krainer Manager Stress Testing
Supervision and Regulation

Niklas Kroner Economist Global Financial Markets
International Finance

Robert J. Kurtzman Group Manager Industrial Output
Research and Statistics

Seung Kwak Senior Economist Financial Intermediaries Analysis
Monetary Affairs

Jeff Larrimore Chief Consumer and Community Research
Consumer and Community Affairs

Jeongmin "Mina" Lee Senior Economist Systemic Financial Institutions and Markets
Research and Statistics

Seung Jung Lee Deputy Associate Director Program Direction
Financial Stability

Andreas Lehnert Director Program Direction
Financial Stability

Kurt F. Lewis Principal Economist Monetary Studies
Monetary Affairs

Canlin Li Senior Economic Project Manager Global Financial Markets
International Finance

Dan Li Assistant Director Program Direction
Monetary Affairs

Geng Li Assistant Director Program Direction
Research and Statistics

Yi Li Principal Economist Short-Term Funding Markets
Research and Statistics

Laura Lipscomb Deputy Associate Director Program Direction
Monetary Affairs

Edith X. Liu Chief Monetary and Financial Market Analysis
Monetary Affairs

Emily O. Liu Senior Financial Analyst Global Financial Flows
International Finance

May X. Liu Senior Statistician Payment System Studies
Reserve Bank Operations and Payment Systems

Alicia Lloro Principal Economist Consumer and Community Research
Consumer and Community Affairs

Juan M. Londono Chief International Financial Stability
International Finance

Sai Ma Senior Economist International Financial Stability
International Finance

Traci L. Mach Principal Economist Flow of Funds
Research and Statistics

Francis A. Martinez Lead Fin Inst Policy Analyst Monetary Policy Operations and Analysis
Monetary Affairs

Patrick E. McCabe Deputy Associate Director Program Direction
Research and Statistics

Andrew C. Meldrum Deputy Associate Director Program Direction
Monetary Affairs

Ellen A. Merry Principal Economist Consumer and Community Research
Consumer and Community Affairs

Alvaro Mezza Principal Economist Consumer Finance
Research and Statistics

Marco Migueis Principal Economist Banking, Credit and Operational Risk
Supervision and Regulation

David C. Mills Senior Associate Director Program Direction
Reserve Bank Operations and Payment Systems

Zach Modig Lead Fin Inst Policy Analyst Policy - Policy Research and Analytics
Supervision and Regulation

Michele Modugno Chief Financial and Macroeconomic Stability Studies
Financial Stability

Raven Molloy Deputy Associate Director Program Direction
Research and Statistics

Patrick Moran Senior Economist Household and Business Spending
Research and Statistics

Juan M. Morelli Senior Economist Banking and Financial Analysis
Monetary Affairs

Gaston M. Navarro Principal Economist Trade and Financial Studies
International Finance

Travis D. Nesmith Assistant Director Quantitative Risk Analysis
Reserve Bank Operations and Payment Systems

Borghan N. Narajabad Chief Systemic Financial Institutions and Markets
Research and Statistics

Thien T. Nguyen Senior Economist Financial and Macroeconomic Stability Studies
Financial Stability

Joseph B. Nichols Principal Economist Household and Business Spending
Research and Statistics

Friederike Niepmann Chief Global Financial Institutions
International Finance

Marcelo Ochoa Principal Economist Monetary and Financial Market Analysis
Monetary Affairs

Dong Hwan Oh Senior Economist Quantitative Risk Analysis
Reserve Bank Operations and Payment Systems

Anna Orlik Principal Economist Monetary Studies
Monetary Affairs

Emilio Osambela Principal Economist Capital Markets
Research and Statistics

Andrew D. Paciorek Chief Household and Business Spending
Research and Statistics

Dino Palazzo Principal Economist Capital Markets
Research and Statistics

Teodora Paligorova Principal Economist Financial Institution Risk Evaluation
Financial Stability

Francisco Palomino Chief Capital Markets
Research and Statistics

Michael G. Palumbo Senior Associate Director Program Direction
Research and Statistics

Ahyan Panjwani Economist Macroprudential Policy Analysis
Financial Stability

Yang-Ho Park Principal Economist Risk Analysis
Research and Statistics

Matthias O. Paustian Assistant Director Program Direction
Research and Statistics

Karen M. Pence Deputy Associate Director Program Direction
Research and Statistics

Ander Perez-Orive Principal Economist Macro-Financial Analysis
Monetary Affairs

Maria G. Perozek Chief Flow of Funds
Research and Statistics

Lubomir Petrasek Chief Financial Intermediaries Analysis
Monetary Affairs

Valery Polkovnichenko Principal Economist Risk Analysis
Research and Statistics

Charles D. Press Senior Quantitative Analyst II Supervision - Stress Testing
Supervision and Regulation

Andrea Prestipino Senior Economist Global Modeling Studies
International Finance

Marcel A. Priebsch Principal Economist Monetary and Financial Market Analysis
Monetary Affairs

Todd A. Prono Principal Economist Quantitative Risk Analysis
Reserve Bank Operations and Payment Systems

Michael V. Pykhtin Manager Trading and Capital Markets
Supervision and Regulation

Carlos A. Ramírez Principal Economist Systemic Financial Institutions and Markets
Research and Statistics

Ben Ranish Principal Economist Banking, Credit and Operational Risk
Supervision and Regulation

Andreas C. Rapp Principal Economist International Financial Stability
International Finance

David E. Rappoport Principal Economist Macroprudential Policy Analysis
Financial Stability

Marcelo Rezende Principal Economist Financial Structure
Research and Statistics

Bryan J. Ricketts Fin Inst Policy Analyst III Supervision - Large Institution Supervisory Coordinating Committee
Supervision and Regulation

Daniel R. Ringo Principal Economist Real Estate Finance
Research and Statistics

Marius Rodriguez Group Manager Monetary and Financial Market Analysis
Monetary Affairs

Chase P. Ross Senior Economist Macroprudential Policy Analysis
Financial Stability

Sharon Y. Ross Senior Economist Global Financial Markets
International Finance

Doriana Ruffino Assistant Director Stress Testing
Supervision and Regulation

Mehrdad Samadi Principal Economist Global Financial Markets
International Finance

Monica Valentina Sanz Advisor Program Direction
International Finance

Robert F. Sarama Deputy Associate Director Stress Testing
Supervision and Regulation

Zack Saravay Senior Fin Inst Policy Analyst I Financial Intermediaries Analysis
Monetary Affairs

Cisil Sarisoy Senior Economist Global Financial Markets
International Finance

Tess C. Scharlemann Principal Economist Real Estate Finance
Research and Statistics

Bernd Schlusche Principal Economist Money Market Analysis
Monetary Affairs

Tim Schmidt-Eisenlohr Principal Economist Financial Institution Risk Evaluation
Financial Stability

Andres Schneider Economist Financial and Macroeconomic Stability Studies
Financial Stability

Immo Schott Senior Economist Global Modeling Studies
International Finance

Krista Schwarz Principal Economist Money Market Analysis
Monetary Affairs

Matthew P. Seay Lead Financial Analyst Financial Institution Risk Evaluation
Financial Stability

Zeynep Senyuz Deputy Associate Director Program Direction
Monetary Affairs

Young Hwa Seok Economist Stress Testing
Supervision and Regulation

Shane M. Sherlund Associate Director Program Direction
Research and Statistics

Chaehee Shin Principal Economist Financial Stability Assessment
Financial Stability

Michael Siemer Principal Economist Macroeconomic and Quantitative Studies
Research and Statistics

André F. Silva Principal Economist Banking and Financial Analysis
Monetary Affairs

Jae W. Sim Principal Economist Macroeconomic and Quantitative Studies
Research and Statistics

Nitish R. Sinha Group Manager Capital Markets
Research and Statistics

Paul A. Smith Deputy Associate Director Program Direction
Research and Statistics

Simon C. Smith Senior Economist Prices and Wages
Research and Statistics

Michael Smolyansky Principal Economist Capital Markets
Research and Statistics

Oleg V. Sokolinskiy Senior Economist Monetary and Financial Market Analysis
Monetary Affairs

Kamila Sommer Chief Consumer Finance
Research and Statistics

Viktors Stebunovs Deputy Associate Director Program Direction
International Finance

Irina Stefanescu Group Manager Flow of Funds
Research and Statistics

Mary-Frances Styczynski Lead Fin Inst Policy Analyst Monetary Policy Operations and Analysis
Monetary Affairs

Gustavo A. Suarez Deputy Associate Director Program Direction
Research and Statistics

Michael Suher Senior Economist Banking, Credit and Operational Risk
Supervision and Regulation

Nathan Swem Principal Economist Financial Stability Assessment
Financial Stability

Pawel J. Szerszen Principal Economist Risk Analysis
Research and Statistics

Balint Szoke Economist Macro-Financial Analysis
Monetary Affairs

Hiroatsu Tanaka Principal Economist Monetary and Financial Market Analysis
Monetary Affairs

Manjola Tase Principal Economist Money Market Analysis
Monetary Affairs

Thiago R. T. Ferreira Group Manager Advanced Foreign Economies
International Finance

Judit Temesvary Principal Economist Global Financial Institutions
International Finance

Ana-Maria K. Tenekedjieva Economist Flow of Funds
Research and Statistics

Mary Tian Group Manager Financial Intermediaries Analysis
Monetary Affairs

Yannick Timmer Principal Economist Macro-Financial Analysis
Monetary Affairs

Jean Xiao Timmerman Senior Fin Inst Policy Analyst II Policy - Policy Planning
Supervision and Regulation

Anna E. Tranfaglia Business Analyst Consumer and Community Research
Consumer and Community Affairs

William F. Treacy Adviser Program Direction
Supervision and Regulation

Erin Troland Principal Economist Consumer and Community Research
Consumer and Community Affairs

Tugkan Tuzun Principal Economist Capital Markets
Research and Statistics

Pinar Uysal Principal Economist Global Financial Institutions
International Finance

Skander Van den Heuvel Associate Director Program Direction
Financial Stability

Eileen van Straelen Senior Economist Real Estate Finance
Research and Statistics

Alexandros Vardoulakis Chief Macroprudential Policy Analysis
Financial Stability

Francisco Vazquez-Grande Group Manager Macro-Financial Analysis
Monetary Affairs

Clara Vega Senior Adviser Program Direction
Research and Statistics

Mateo Velásquez-Giraldo Economist Macroeconomic and Quantitative Studies
Research and Statistics

Stéphane Verani Principal Economist Systemic Financial Institutions and Markets
Research and Statistics

Diego Vilán Senior Economist Macroeconomic and Quantitative Studies
Research and Statistics

Annette Vissing-Jorgensen Senior Adviser Program Direction
Monetary Affairs

Cindy M. Vojtech Chief Financial Institution Risk Evaluation
Financial Stability

Bastian von Beschwitz Chief Global Financial Markets
International Finance

Martin M. Waibel Economist Financial Intermediaries Analysis
Monetary Affairs

Ashley Wang Assistant Director Program Direction
Research and Statistics

James Wang Principal Economist Stress Testing
Supervision and Regulation

Jessie Wang Principal Economist Banking and Financial Analysis
Monetary Affairs

Ke Wang Principal Economist Banking, Credit and Operational Risk
Supervision and Regulation

Teng Wang Principal Economist Stress Testing
Supervision and Regulation

Missaka Warusawitharana Manager Policy Effectiveness and Assessment
Supervision and Regulation

Douglas A. Webber Principal Economist Consumer and Community Research
Consumer and Community Affairs

Min Wei Senior Associate Director Program Direction
Monetary Affairs

Colin R. Weiss Principal Economist Global Financial Flows
International Finance

Kirstin E. Wells Principal Economist FedNow Oversight Coordination and Strategy
Reserve Bank Operations and Payment Systems

Fabian Winkler Group Manager Monetary Studies
Monetary Affairs

Carlo E. Wix Principal Economist Banking and Financial Analysis
Monetary Affairs

Isabella M. Wolfskeil Economist International Financial Stability
International Finance

Ines M. Xavier Economist Macro-Financial Analysis
Monetary Affairs

Ram S. Yamarthy Senior Economist Capital Markets
Research and Statistics

Jie Yang Group Manager Capital Markets
Research and Statistics

Vladimir L. Yankov Principal Economist Financial Institution Risk Evaluation
Financial Stability

Emre Yoldas Deputy Associate Director Program Direction
International Finance

Youngsuk Yook Principal Economist Flow of Funds
Research and Statistics

Nick Zarra Economist Capital Markets
Research and Statistics

David L. Zeke Senior Economist Capital Markets
Research and Statistics

Ilknur Zer Principal Economist Global Financial Institutions
International Finance

Tony Zhang Principal Economist Global Financial Markets
International Finance

Filip Zikes Principal Economist Financial Stability Assessment
Financial Stability

Andrei Zlate Group Manager Banking and Financial Analysis
Monetary Affairs

Last Update: May 12, 2025

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