Photo of Andrew C. Meldrum

Andrew C. Meldrum

Education

  • Ph.D., Economics, University of Cambridge, 2012
  • M.Sc., Economics, Birkbeck College, University of London, 2008
  • M.Sc., Finance, University of Durham, 2002
  • B.A., Economics, University of Durham, 2001
Current Research Topics
  • Term structure of interest rates
  • Treasury market liquidity
  • Assistant Director

    Board of Governors of the Federal Reserve System

    2022 - present
  • Chief

    Board of Governors of the Federal Reserve System

    2020 - 2022
  • Principal Economist

    Board of Governors of the Federal Reserve System

    2017 - 2020
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2016 - 2017
  • Advisor

    Bank of England

    2012 - 2016
  • Economist / Senior Economist

    Bank of England

    2002 - 2008
  • The information in joint term structures of bond yields
    Andrew Meldrum, Marek Raczko, and Peter Spencer
    Journal of International Money and Finance (2023)
    https://doi.org/10.1016/j.jimonfin.2023.102828
  • The Effects of Volatility on Liquidity in the Treasury Market
    Andrew Meldrum and Oleg Sokolinskiy
    Finance and Economics Discussion Series (2023)
    https://doi.org/10.17016/FEDS.2023.028
  • High-Frequency Estimates of the Natural Real Rate and Inflation Expectations
    Alex Aronovich and Andrew Meldrum
    Finance and Economics Discussion Series (2021)
    https://doi.org/10.17016/FEDS.2021.034
  • The Treasury Market Flash Event of February 25, 2021
    Alex Aronovich, Dobrislav Dobrev, and Andrew Meldrum
    FEDS Notes (2021)
    https://doi.org/10.17016/2380-7172.2909
  • No-Arbitrage Pricing of GDP-Linked Bonds
    Fernando Eguren-Martin, Andrew Meldrum, and Wen Yan
    Journal of Banking & Finance (2021)
    https://doi.org/10.1016/j.jbankfin.2021.106075
  • What Do Quoted Spreads Tell Us About Machine Trading at Times of Market Stress? Evidence from Treasury and FX Markets during the COVID-19-Related Market Turmoil in March 2020
    Dobrislav Dobrev and Andrew Meldrum
    FEDS Notes (2020)
    https://doi.org/10.17016/2380-7172.2748
  • New Financial Market Measures of the Neutral Real Rate and Inflation Expectations
    Alex Aronovich and Andrew Meldrum
    FEDS Notes (2020)
    https://doi.org/10.17016/2380-7172.2621
  • Expectations about the Federal Funds Rate in the Long Run
    Kasper Joergensen and Andrew Meldrum
    FEDS Notes (2019)
    https://doi.org/10.17016/2380-7172.2431
  • Bond Risk Premiums at the Zero Lower Bound
    Martin M. Andreasen, Kasper Jørgensen, and Andrew Meldrum
    Finance and Economics Discussion Series (2019)
    https://doi.org/10.17016/FEDS.2019.040
  • A Shadow Rate or a Quadratic Policy Rule? The Best Way to Enforce the Zero Lower Bound in the United States
    Martin M. Andreasen and Andrew C. Meldrum
    Journal of Financial and Quantitative Analysis (2019)
    https://doi.org/10.1017/S0022109018001576
    See also » FRB Working Paper (2018)
  • Predicting Recession Probabilities Using the Slope of the Yield Curve
    Peter Johansson and Andrew Meldrum
    FEDS Notes (2018)
    https://doi.org/10.17016/2380-7172.2146
  • Robustness of Long-Maturity Term Premium Estimates
    Canlin Li, Andrew Meldrum, and Marius Rodriguez
    FEDS Notes (2017)
    https://doi.org/10.17016/2380-7172.1927
  • Evaluating the Robustness of UK Term Structure Decompositions Using Linear Regression Methods
    Sheheryar Malik and Andrew Meldrum
    Journal of Banking & Finance (2016)
    https://doi.org/10.1016/j.jbankfin.2016.02.006
  • A Global Model of International Yield Curves: No-arbitrage Term Structure Approach
    Iryna Kaminska, Andrew Meldrum, and James Smith
    International Journal of Finance & Economics (2013)
    https://doi.org/10.1002/ijfe.1468
  • Market Expectations of Future Bank Rate
    Michael Joyce and Andrew Meldrum
    Bank of England Quarterly Bulletin (2008)
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Last Update: August 2, 2024