The Federal Reserve Board employs over 300 Ph.D. economists, who represent an exceptionally diverse range of interests and specific areas of expertise. Board economists conduct cutting edge research, produce numerous working papers, and are among the leading contributors at professional meetings and in major journals. Our economists 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:

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.

Program Direction

Program Direction sets objectives and allocates resources, and coordinates and oversees the Division's work, facilitating staff efforts to carry out the Division's mission. In addition, official staff in Program Direction support the Board and the FOMC by preparing analysis on a wide range of monetary policy issues and by directing the FOMC Secretariat, act as a liaison with the trading desk at the Federal Reserve Bank of New York in connection with open market operations and implementation of monetary policy, contribute to Board efforts surrounding supervision, regulation, and financial stability, and participate on Board and System oversight committees and represent the Federal Reserve on international and domestic interagency working groups.







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Brian F. Madigan

Deputy DirectorProgram DirectionMonetary Affairs



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Min Wei Deputy Associate Director Program Direction Monetary Affairs

Last update: March 27, 2017