Financial Markets

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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

Financial Markets

Job Role:

Andrea Ajello Chief Macro-Financial Analysis
Monetary Affairs

Levent Altinoglu Principal Economist Financial and Macroeconomic Stability Studies
Financial Stability

John Ammer Senior Economic Project Manager International Financial Stability
International Finance

Alyssa G. Anderson Principal Economist Money Market Analysis
Monetary Affairs

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

Sirio Aramonte Principal Economist International Financial Stability
International Finance

Ayelen Banegas Principal Economist Financial Intermediaries Analysis
Monetary Affairs

Daniel J. Barth Principal Economist Financial Stability Assessment
Financial Stability

Erik Bostrom Senior Fin Inst Policy Analyst I Money Market Analysis
Monetary 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

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

Andrew M. Cohen Assistant Director Program Direction
Financial Stability

Daniel M. Covitz Deputy Director Program Direction
Research and Statistics

Matt Darst Principal Economist Macroprudential Policy Analysis
Financial Stability

Michele H. Dathan Senior Economist Global Financial Markets
International Finance

Laurie Pounder DeMarco Economic Project Manager Global Financial Institutions
International Finance

Benjamin Dennis Principal Economist Policy Planning and Strategy
Supervision and Regulation

Jennifer L. Dlugosz Principal Economist Financial Structure
Research and Statistics

Dobrislav Dobrev Principal Economist Monetary and Financial Market Analysis
Monetary Affairs

Fang Du Adviser Program Direction
Supervision and Regulation

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

Burcu Duygan-Bump Associate Director Program Direction
Research and Statistics

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

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

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

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

Maximilian Grimm Economist Financial Institution Risk Evaluation
Financial Stability

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

Li Gu Senior Economist Trading and Capital Markets
Supervision and Regulation

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

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

Yesol Huh Principal Economist Risk Analysis
Research and Statistics

Matteo Iacoviello Senior Associate Director Program Direction
International Finance

Diana Iercosan Principal Economist Trading and Capital Markets
Supervision and Regulation

Sebastian Infante Chief Money Market Analysis
Monetary Affairs

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

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

R. Jay Kahn Principal 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

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

Kyungmin Kim Principal Economist Money Market Analysis
Monetary Affairs

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

Yuriy Kitsul Principal Economist Global Financial Flows
International Finance

Elizabeth C. Klee Deputy Director Program Direction
Monetary Affairs

Anya V. Kleymenova Manager Stress Testing
Supervision and Regulation

Seung Kwak Senior Economist Financial Intermediaries Analysis
Monetary 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 Adviser Program Direction
Monetary Affairs

Canlin Li Senior Economic Project Manager Global Financial Markets
International Finance

Dan Li Deputy Associate Director Program Direction
Monetary Affairs

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

Laura Lipscomb Deputy Associate Director Program Direction
Monetary Affairs

Sai Ma Senior Economist International Financial Stability
International Finance

Alice A. Maddrey Senior Fin Inst Policy Analyst I Policy Analytics
Supervision and Regulation

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

Andrew C. Meldrum Deputy Associate Director Program Direction
Monetary Affairs

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

Ioana Neamtu Senior Economist Flow of Funds
Research and Statistics

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

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

Anna Orlik Principal Economist Monetary Studies
Monetary Affairs

Teodora Paligorova Principal Economist Financial Institution Risk Evaluation
Financial Stability

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

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

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 Principal Economist Monetary Studies
Monetary Affairs

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

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

Andreas C. Rapp Principal Economist International Financial Stability
International Finance

David E. Rappoport Principal Economist Macroprudential Policy Analysis
Financial Stability

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

Marius Rodriguez Group Manager Monetary and Financial Market Analysis
Monetary Affairs

Doriana Ruffino Assistant Director Stress Testing
Supervision and Regulation

Monica Valentina Sanz Advisor Program Direction
International Finance

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

Cisil Sarisoy Senior Economist Global Financial Markets
International Finance

Bernd Schlusche Principal Economist Money Market Analysis
Monetary Affairs

Andres Schneider Principal Economist Monetary and Financial Market Analysis
Monetary Affairs

Krista Schwarz Principal Economist Money Market Analysis
Monetary Affairs

Zeynep Senyuz Deputy Associate Director Program Direction
Monetary Affairs

Chaehee Shin Principal Economist Financial Stability Assessment
Financial Stability

Michael Siemer Principal Economist Financial Stability Assessment
Financial Stability

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

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

Michael Smolyansky Principal Economist Capital Markets
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

Nathan Swem Principal Economist Financial Stability Assessment
Financial Stability

Pawel J. Szerszen Principal Economist Risk Analysis
Research and Statistics

Manjola Tase Principal Economist Money Market Analysis
Monetary Affairs

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

Tugkan Tuzun Principal Economist Capital Markets
Research and Statistics

Pinar Uysal Principal Economist Global Financial Institutions
International Finance

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

Diego Vilán Senior Economist Macroeconomic and Quantitative Studies
Research and Statistics

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

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

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

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 Principal Economist Capital Markets
Research and Statistics

Filip Zikes Principal Economist Financial Stability Assessment
Financial Stability

Last Update: December 01, 2025

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