Board of Governors of the Federal Reserve System

International Finance

The Division of International Finance is responsible for basic research, policy analysis, and reporting in the areas of foreign economic activity, U.S. external trade and capital flows, and developments in international financial markets and institutions. Research responsibilities are shared by staff economists in the sections listed below as well as by the officers in the Program Direction group.

Trade and Quantitative Studies

The Trade and Quantitative Studies section produces policy analysis, forecasts, and research on U.S. international trade and trade policy, oil and other commodity markets, and the interdependence of the U.S. economy and foreign economies. Much of this work is centered around quantitative models, including the Division’s forecasting model of U.S. net exports and trade prices, which are essential components of the Board’s internal GDP and inflation forecasts. The section also conducts research in many areas across international economics and macroeconomics, including oil and commodity prices, international trade, and trade prices.