Economist

Federal Reserve Bank of Philadelphia • Boston, MA

5d • Hybrid

About The Position

The Federal Reserve Bank of Boston is one of the 12 Federal Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. We (the “Boston Fed,” the “Bank”) serve the First Federal Reserve District that includes the six New England states: Connecticut (excluding Fairfield County), Massachusetts, Maine, New Hampshire, Rhode Island, and Vermont. With the overarching vision of a vibrant economy that works for all, the Boston Fed promotes sound growth and financial stability in our region and the nation and helps to formulate and implement monetary policy. Our contributions to the First District and the nation are founded on high-quality research and bank supervisory activities, excellence in supporting financial services and financial markets stability, leadership in payments innovation, and an active commitment to supporting economic well-being in communities. The Bank holds several key System roles, including leading the Financial Support Office, which directs financial management for the System, including managing the budget and related technology programs. The Bank develops and leads innovative payments programs. One example is the recently launched FedNowSM Service (“FedNow”), a real-time gross payments settlement system. The Bank also played a central leadership role in the Federal Reserve’s crisis responses during both the Great Financial Crisis (2008) and the global pandemic (2020). The Bank is a thought leader and innovator in numerous areas, including financial stability, monetary policy, and community development. The Boston Fed employs approximately 1,300 people, based primarily in the First District. We are proud of our strong organizational culture, which is built on our four core values: Community, Innovation, Integrity & Trust, and Leadership & Excellence. Our inclusive work environment respects and fully values our employees’ individual strengths, including their different backgrounds, personalities, and thought processes. We are a visible business leader in Greater Boston and throughout the First District, serving as an important business community advisor and nonpartisan convener of ideas in areas of economic and workforce development. Our President and Bank leaders are engaged with numerous organizations that support the First District community, including professional associations and nonprofit and academic boards.

Requirements

• Ph.D degree in economics.
• Must have ability to conduct policy-relevant research at the frontier of macroeconomics, with a focus on labor economics, inflation dynamics, and public finance, as demonstrated by at least three research papers (published or completed working papers) and at least one example of current work in progress.
• Must have state-of-the-art quantitative and econometric skills as demonstrated by academic course work, papers, or prior experience.
• Must have proficiency in working with large-scale datasets as demonstrated in working papers or prior experience.
• Must be willing to travel domestically and globally, estimated 6-10 trips/year
• All candidates must be U.S. citizens or lawful permanent resident aliens with at least three or more years of U.S. residency from the date of legal entry to the U.S.
• For this job, any offer of employment is contingent upon successfully passing a two-phase security screening. The first phase consists of the satisfactory completion of a physical examination (including a drug screening), reference checks, and a security investigation consisting of credit and criminal history checks. The second phase, which might not be complete until after you begin working at the Reserve Bank, is an additional risk-based security screening determined by the risk rating of the position. Depending upon the sensitivity of the position, this phase may include, and is not limited to, citizenship status verification, and personal interviews with the candidate, references, and prior employers.
• All employees assigned to this position will be subject to FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years.

Responsibilities

• Advise the Bank president and Board of Directors on monetary policy issues, especially those related to labor markets, inflation dynamics, and public finance.
• Keep abreast of monetary policy-relevant issues and address them using state-of-the-art professional techniques.
• Produce working papers for publication in high-quality peer-reviewed journals and write accessible articles on timely policy questions for department publications.
• Present current research at meetings, conferences, and workshops held by the Bank and academic, business, and international organizations.
• Help organize workshops, seminars, and conferences as requested.
• Participate in the Bank’s outreach program; deliver talks to the general public on Federal Reserve policy and/or research topics.
• Assist in staff recruitment by reviewing curriculum vitae and dissertation abstracts, conducting interviews, reading and commenting on candidate's working papers, and speaking with references.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Ph.D. or professional degree