Frequently Asked Questions (FAQs)
- Where is the Federal Reserve Board located?
The Federal Reserve Board is located in downtown Washington, D.C. on C Street, N.W. between 20th and 21st Streets.
- Do I have to be a U.S. citizen to apply to the internship program?
No. However, candidates must be legally authorized to work in the United States.
- Does the Board provide housing for out-of-state interns?
The Board does not provide housing for the internship program. Selected students may find housing opportunities in the local newspapers, web sites, (for example, www.internsdc.com
) or nearby universities.
- Can I send my letters of recommendation through the postal service?
Using the regular mail service may delay the process and result in missed deadlines. It is preferred that all application materials, including recommendation letters, are sent via e-mail or fax.
- What types of dissertation topics are of interest to the Board?
Because of its many responsibilities, the Board has broad research interests. Accordingly, we are interested in dissertation topics such as macroeconomics, labor, monetary policy, international trade and finance, banking (including regulatory issues), finance, and econometrics.
- In what stage should my dissertation be to maximize my chances of acceptance?
We find that fourth and fifth year students gain the most from this type of internship. Occasionally, a third year student is far enough along on his or her dissertation to gain the benefit of the program.
- Should I indicate my interest in the fall and spring sessions even though my primary interest is in the summer session?
Yes. The number of applications for summer internships far exceeds the number of available positions. Because fewer students are available for fall and spring internships, the chances of being contacted for an internship are greater for those sessions.
- Will someone notify me about the status of my application?
Only selected candidates are contacted. Questions regarding application status may be directed to the committee at firstname.lastname@example.org
- Should I send my application material to the Board by mail, fax, or e-mail?
We prefer that all application material is sent by e-mail to email@example.com
. Students should send a vita, work from the thesis, and an unofficial copy of the most recent transcript. Professors should send recommendation letters by e-mail.
- Do I need to reside in Washington, D.C., during my internship?
Yes. Interns “work” regular hours at the Board from Monday through Friday. Flexibility is given for visits back to the university as needed, although the Board does not pay for travel expenses.
- How many interns are hired per session?
Generally, six to eight internships are granted for the summer and three or four for the fall. Only one or two interns are usually hired for the spring session.
- In addition to furthering dissertation research, are there other requirements during the internship?
Interns are required to make one or two presentations during their stay, with the first one occurring early in the internship.
Project and Unpaid Internships
- If I apply to the internship program in the Divisions of Research and Statistics or Monetary Affairs, will I be considered for internship positions in other non-economic divisions at the Board?
Applications submitted to firstname.lastname@example.org
will be considered for the intern positions in the Divisions of Research and Statistics and Monetary Affairs only.
- Are the interviews conducted at the Federal Reserve Board in Washington, D.C.?
On-site interviews are not conducted. Selections are based solely on phone interviews, academic records, and references.
- Will my application be considered for internship positions at the Federal Reserve Banks?
The Federal Reserve Board and each Federal Reserve Bank work independently in hiring employees. To be considered for positions at a Federal Reserve Bank, you must contact the individual bank of interest to learn of employment opportunities.
- Can I apply for both paid and unpaid internship positions?
Yes. Indicate your interest in paid, unpaid, or both positions in your cover letter. Unpaid internship positions are only considered after all of the paid internship positions are filled.
- I am a sophomore, should I still apply?
Most of our projects require a level of knowledge normally obtained by a minimum of three years in an undergraduate program. However, all interested applicants are welcome to apply.
- Will someone notify me when my internship package is received by your office?
Applicants for summer internships will receive confirmation of receipt by e-mail as soon as their entire package is received. Selections are usually made by April 30. Applications received for unpaid internships during periods other than the summer will be acknowledged only if a project becomes available.
- Do all of my letters of recommendation have to be written by professors?
Yes. Professors should send letters of recommendation directly to the Board via e-mail or fax.
- If I am selected as a summer intern, when would I start and how long does the program last?
Summer interns may begin as early as May. Start dates are agreed upon by the hiring supervisor and the selected candidate. Summer internships end within 90 days of the intern’s arrival.
- What type of projects are summer interns assigned?
Due to the various areas of concentration in the research divisions, internship projects range from collecting data to applying theory. Interns work under the direct supervision of an economist and generally with the assistance of a research assistant. Before the telephone interview, candidates are provided information about the project for which they are being considered.