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.

Last Name:
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Field of Interest:
Division:

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.

Section:
Payment System Studies

The Payment System Studies (PSS) section is a key research group in RBOPS. PSS staff helps analyze policy issues and disseminate information associated with established and emerging payment, clearing, and settlement systems. In this role, the section also assists in evaluating possible approaches to improve the U.S. payment system, including through the lens of monetary policy, financial stability, and market competition. PSS staff conducts original research on a wide variety of payment topics, including interchange fee regulation, central counterparties, digital currencies, cross-border payments, technological change, and payment behavior. The section also collects, analyzes, and publishes research based on payment data from depository institutions, card networks, and other payment processors. Finally, PSS staff supports the Bank for International Settlements with payment data, analyses, and information.

Job Role:
B
Photo of Garth Baughman
Garth Baughman Principal Economist Payment System Studies
Reserve Bank Operations and Payment Systems

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

D
Photo of Chuan Du
Chuan Du Economist Payment System Studies
Reserve Bank Operations and Payment Systems

F
Photo of Elena Falcettoni
Elena Falcettoni Senior Economist Payment System Studies
Reserve Bank Operations and Payment Systems
Photo of Jean C. Flemming
Jean C. Flemming Senior Economist Payment System Studies
Reserve Bank Operations and Payment Systems

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

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

W
Photo of Krzysztof P. Wozniak
Krzysztof P. Wozniak Section Chief Payment System Studies
Reserve Bank Operations and Payment Systems
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Last Update: June 17, 2024