Meet the Economists
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.
Reserve Bank Operations and Payment Systems
The Division of Reserve Bank Operations and Payment Systems oversees the policies and operations of the Federal Reserve Banks as providers of financial services to depository institutions and as providers of fiscal agency services to the U.S. Treasury and other government agencies. In addition, as part of the Board's enhanced program for the supervision and oversight of payment systems, central securities depositories, securities settlement systems, central counterparties, and trade information warehouses, the division participates directly in the supervision of financial market infrastructures that are designated as systemically important by the U.S. Financial Stability Oversight Council as well as in more general oversight activities relating to domestic and foreign financial market infrastructures. The division also develops policies and regulations to foster the integrity and efficiency of the U.S. payment and financial system; works closely with other regulators, central banks, and international organizations to improve the payment and financial system more broadly; and conducts research on various topics related to payment and clearing issues and financial market infrastructures.
Payment System Studies
The Payment System Studies section is the division's primary research arm. The program analyzes policy issues associated with emerging and established payment and clearing mechanisms and disseminates information on payment, clearing, and settlement systems and issues. The section undertakes original research into longer-range payment, clearing, and settlement topics, including the interrelationships among systems, long-run technological trends and their economic and risk implications, systemic risk, and interbank and correspondent banking relationships.
The section's staff helps formulate Federal Reserve payment and settlement policy. It also supports the Bank for International Settlements' Committee on Payments and Settlement Systems with analyses and information.