Macroeconomics

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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:

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Field of Interest:

Finance International Economics Macroeconomics Mathematical and Quantitative Methods Microeconomics

Division:

Consumer and Community Affairs Division of Board Members Financial Stability International Finance Monetary Affairs Research and Statistics Reserve Bank Operations and Payment Systems Supervision and Regulation

Macroeconomics

Field:

Consumption Economic History Fiscal Policy Investment Macroeconomics Monetary Economics Monetary Policy Prices Technological Change and Growth

Job Role:

Stephanie R. Aaronson Senior Associate Director Program Direction
Research and Statistics

Elena Afanasyeva Principal Economist Financial and Macroeconomic Stability Studies
Financial Stability

Shaghil Ahmed Deputy Director Program Direction
International Finance

Hie Joo Ahn Principal Economist Current Macroeconomic Conditions
Research and Statistics

Florencia S. Airaudo Economist Advanced Foreign Economies
International Finance

Andrea Ajello Chief Macro-Financial Analysis
Monetary Affairs

Aditya Aladangady Principal Economist Microeconomic Surveys
Research and Statistics

Jeffrey S. Allen Lead Fin Inst Policy Analyst Digital Innovations Studies
Reserve Bank Operations and Payment Systems

Harun Alp Economist Advanced Foreign Economies
International Finance

Levent Altinoglu Principal Economist Financial and Macroeconomic Stability Studies
Financial Stability

Gianni G. Amisano Assistant Director Program Direction
Research and Statistics

Sriya L. Anbil Group Manager Money Market Analysis
Monetary Affairs

Maria Aristizabal-Ramirez Economist Emerging Market Economies
International Finance

David M. Arseneau Assistant Director Program Direction
Financial Stability

Sina T. Ates Principal Economist Emerging Market Economies
International Finance

Alessandro Barbarino Principal Economist Current Macroeconomic Conditions
Research and Statistics

Bence A. Bardoczy Senior Economist Macroeconomic and Quantitative Studies
Research and Statistics

Kayleigh N. Barnes Economist Consumer Finance
Research and Statistics

Garth Baughman Principal Economist Payment System Studies
Reserve Bank Operations and Payment Systems

Daniel O. Beltran Deputy Associate Director Program Direction
International Finance

Travis J. Berge Chief Current Macroeconomic Conditions
Research and Statistics

Brett D. Berger Senior Adviser Program Direction
International Finance

Martin Bodenstein Assistant Director Program Direction
International Finance

Mark J. Bognanni Principal Economist Prices and Wages
Research and Statistics

Brian J. Bonis Deputy Associate Director Program Direction
Monetary Affairs

Erik Bostrom Fin Inst Policy Analyst III Money Market Analysis
Monetary Affairs

David Bowman Senior Associate Director Program Direction
Monetary Affairs

Eirik E. Brandsaas Senior Economist Household and Business Spending
Research and Statistics

Robin Braun Senior Economist Industrial Output
Research and Statistics

David M. Byrne Principal Economist Industrial Output
Research and Statistics

Marco Cagetti Assistant Director Program Direction
Research and Statistics

Fang Cai Assistant Director Program Direction
Financial Stability

Colin C. Caines Principal Economist Emerging Market Economies
International Finance

Isabel Cairó Principal Economist Monetary Studies
Monetary Affairs

Tomaz Cajner Group Manager Industrial Output
Research and Statistics

Dario Caldara Assistant Director Program Direction
International Finance

James A. Caldera Economist Policy Effectiveness and Assessment
Supervision and Regulation

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

Mark A. Carlson Adviser Program Direction
Monetary Affairs

Danilo Cascaldi-Garcia Principal Economist Advanced Foreign Economies
International Finance

David B. Cashin Principal Economist Fiscal Analysis
Research and Statistics

Michele Cavallo Principal Economist Banking and Financial Analysis
Monetary Affairs

Andrew C. Chang Principal Economist Microeconomic Surveys
Research and Statistics

Jin-Wook B. Chang Senior Economist Financial Stability Assessment
Financial Stability

Arpita Chatterjee Senior Economist Trade and Quantitative Studies
International Finance

Han Chen Senior Economist Household and Business Spending
Research and Statistics

David Cho Senior Economist Household and Business Spending
Research and Statistics

Jaedo Choi Economist Industrial Output
Research and Statistics

Joonkyu Choi Senior Economist Macroeconomic and Quantitative Studies
Research and Statistics

Hess T. Chung Chief Macroeconomic and Quantitative Studies
Research and Statistics

James A. Clouse Deputy Director Program Direction
Monetary Affairs

John M. Coglianese Senior Economist Labor Markets
Research and Statistics

Nathan L. Converse Principal Economist Global Financial Flows
International Finance

Leland D. Crane Principal Economist Industrial Output
Research and Statistics

Edmund S. Crawley Senior Economist Monetary Studies
Monetary Affairs

Pablo A. Cuba-Borda Principal Economist Global Modeling Studies
International Finance

Deepa Dhume Datta Assistant Director Program Direction
International Finance

Andrea De Michelis Deputy Associate Director Program Direction
International Finance

Francois de Soyres Chief Advanced Foreign Economies
International Finance

Margaret DeBoer Deputy Associate Director Program Direction
Monetary Affairs

Ryan A. Decker Chief Industrial Output
Research and Statistics

Lisa J. Dettling Principal Economist Fiscal Analysis
Research and Statistics

Daniel A. Dias Principal Economist Financial Institution Risk Evaluation
Financial Stability

Anthony M. Diercks Principal Economist Monetary and Financial Market Analysis
Monetary Affairs

Christine L. Dobridge Principal Economist Flow of Funds
Research and Statistics

Cynthia L. Doniger Principal Economist Money Market Analysis
Monetary Affairs

Brian M. Doyle Deputy Director Program Direction
International Finance

John C. Driscoll Principal Economist Consumer Finance
Research and Statistics

Chuan Du Economist Payment System Studies
Reserve Bank Operations and Payment Systems

Wendy E. Dunn Adviser Program Direction
Research and Statistics

Ricardo Filipe Duque Gabriel Economist Policy Effectiveness and Assessment
Supervision and Regulation

Bora Durdu Deputy Associate Director Program Direction
Financial Stability

Burcu Duygan-Bump Associate Director Program Direction
Research and Statistics

Rochelle M. Edge Deputy Director Program Direction
Monetary Affairs

Matthew J. Eichner Director Program Direction
Reserve Bank Operations and Payment Systems

Eric M. Engen Senior Associate Director Program Direction
Research and Statistics

Eric C. Engstrom Associate Director Program Direction
Monetary Affairs

Albert Fattal Data and Technology Analyst III Program Direction
Research and Statistics

Giovanni Favara Deputy Associate Director Program Direction
Monetary Affairs

Laura J. Feiveson Deputy Assistant Secretary Household and Business Spending
Research and Statistics

Francesco Ferrante Principal Economist Trade and Financial Studies
International Finance

Erin E. Syron Ferris Principal Economist Money Market Analysis
Monetary Affairs

Andrew Figura Associate Director Program Direction
Research and Statistics

Giuseppe Fiori Principal Economist Global Modeling Studies
International Finance

Aaron B. Flaaen Principal Economist Trade and Financial Studies
International Finance

Johannes Fleck Economist Advanced Foreign Economies
International Finance

Charles A. Fleischman Adviser Program Direction
Research and Statistics

Jean C. Flemming Senior Economist Payment System Studies
Reserve Bank Operations and Payment Systems

Nathan Foley-Fisher Principal Economist Systemic Financial Institutions and Markets
Research and Statistics

Glenn R. Follette Associate Director Program Direction
Research and Statistics

Cristina Fuentes-Albero Group Manager Macroeconomic and Quantitative Studies
Research and Statistics

Sheridan Fuller Economist Fiscal Analysis
Research and Statistics

Chad T. Fulton Principal Economist Prices and Wages
Research and Statistics

Etienne Gagnon Senior Associate Director Program Direction
International Finance

William L. Gamber Senior Economist Household and Business Spending
Research and Statistics

Daniel I. Garcia Molina Senior Economist Household and Business Spending
Research and Statistics

Joaquin Garcia-Cabo Principal Economist Advanced Foreign Economies
International Finance

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

Stefan Gissler Principal Economist Systemic Financial Institutions and Markets
Research and Statistics

David P. Glancy Principal Economist Banking and Financial Analysis
Monetary Affairs

Nils M. Gornemann Principal Economist Advanced Foreign Economies
International Finance

Jonathan Goldberg Principal Economist Macro-Financial Analysis
Monetary Affairs

Manuel P. Gonzalez-Astudillo Principal Economist Macroeconomic and Quantitative Studies
Research and Statistics

Olesya V. Grishchenko Principal Economist Monetary and Financial Market Analysis
Monetary Affairs

Christopher J. Gust Associate Director Program Direction
Monetary Affairs

Flora M. Haberkorn Data Scientist Integrated Technology Solutions
International Finance

Sinem Hacioglu Hoke Senior Economist Industrial Output
Research and Statistics

Hajime H. Hadeishi Principal Economist Fair Lending Enforcement
Consumer and Community Affairs

Diana Hancock Senior Associate Director Program Direction
Research and Statistics

Nathan W. Heinrich Senior Financial Analyst Systemic Financial Institutions and Markets
Research and Statistics

Edward P. Herbst Chief Monetary Studies
Monetary Affairs

Jasper Hoek Deputy Associate Director Program Direction
International Finance

Cooper Howes Senior Economist Household and Business Spending
Research and Statistics

Christopher Huckfeldt Senior Economist Global Modeling Studies
International Finance

Matteo Iacoviello Senior Associate Director Program Direction
International Finance

Jane E. Ihrig Senior Adviser Program Direction
Monetary Affairs

Felicia F. Ionescu Chief Banking and Financial Analysis
Monetary Affairs

Anni T. Isojaervi Economist Financial and Macroeconomic Stability Studies
Financial Stability

Margaret M. Jacobson Senior Economist Monetary Studies
Monetary Affairs

Benjamin K. Johannsen Assistant Director Program Direction
Monetary Affairs

Callum J. Jones Principal Economist Monetary Studies
Monetary Affairs

Ruth A. Judson Senior Economic Project Manager Global Financial Flows
International Finance

Dalida Kadyrzhanova Principal Economist Capital Markets
Research and Statistics

John Kandrac Group Manager Financial Structure
Research and Statistics

Benjamin S. Kay Principal Economist Policy Effectiveness and Assessment
Supervision and Regulation

Michael T. Kiley Deputy Director Program Direction
Financial Stability

Kyungmin Kim Principal Economist Money Market Analysis
Monetary Affairs

Yuriy Kitsul Principal Economist Global Financial Flows
International Finance

Elizabeth C. Klee Senior Associate Director Program Direction
Financial Stability

Matthew T. Klepacz Principal Economist Trade and Quantitative Studies
International Finance

Benjamin Knox Senior Economist Global Financial Markets
International Finance

Scott R. Konzem Senior Economic Modeler Monetary Studies
Monetary Affairs

Niklas Kroner Economist Global Financial Markets
International Finance

Robert J. Kurtzman Group Manager Industrial Output
Research and Statistics

Christopher J. Kurz Assistant Director Industrial Output
Research and Statistics

Seung Kwak Senior Economist Financial Intermediaries Analysis
Monetary Affairs

Jean-Philippe Laforte Group Manager Macroeconomic and Quantitative Studies
Research and Statistics

David E. Lebow Senior Associate Director Program Direction
Research and Statistics

Andreas Lehnert Director Program Direction
Financial Stability

Paul Lengermann Deputy Associate Director Program Direction
Research and Statistics

Antoine Lepetit Principal Economist Macroeconomic and Quantitative Studies
Research and Statistics

Kurt F. Lewis Principal Economist Monetary Studies
Monetary Affairs

Logan T. Lewis Chief Trade and Quantitative Studies
International Finance

Geng Li Assistant Director Program Direction
Research and Statistics

Anna Lipinska Group Manager Emerging Market Economies
International Finance

Laura Lipscomb Deputy Associate Director Program Direction
Monetary Affairs

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

J David Lopez-Salido Senior Associate Director Program Direction
Monetary Affairs

Francesca Loria Principal Economist Macro-Financial Analysis
Monetary Affairs

Matteo Luciani Principal Economist Current Macroeconomic Conditions
Research and Statistics

Sai Ma Senior Economist International Financial Stability
International Finance

Francis A. Martinez Lead Fin Inst Policy Analyst Monetary Policy Operations and Analysis
Monetary Affairs

Todd E. Messer Economist Global Financial Institutions
International Finance

David S. Miller Principal Economist Macroeconomic and Quantitative Studies
Research and Statistics

David C. Mills Senior Associate Director Program Direction
Reserve Bank Operations and Payment Systems

Robert J. Minton Economist Prices and Wages
Research and Statistics

Anushka Mitra Economist Trade and Financial Studies
International Finance

Carter B. Mix Senior Economist Trade and Quantitative Studies
International Finance

Zach Modig Lead Fin Inst Policy Analyst Policy - Policy Research and Analytics
Supervision and Regulation

Michele Modugno Chief Financial and Macroeconomic Stability Studies
Financial Stability

Anderson E. Monken Group Manager Integrated Technology Solutions
International Finance

Joshua K. Montes Principal Economist Labor Markets
Research and Statistics

Camilo Morales-Jimenez Senior Economist Macroeconomic and Quantitative Studies
Research and Statistics

Patrick Moran Senior Economist Household and Business Spending
Research and Statistics

Juan M. Morelli Senior Economist Banking and Financial Analysis
Monetary Affairs

Norman J. Morin Associate Director Program Direction
Research and Statistics

Seth M. Murray Senior Economist Labor Markets
Research and Statistics

Gaston M. Navarro Principal Economist Trade and Financial Studies
International Finance

Christopher J. Nekarda Principal Economist Labor Markets
Research and Statistics

Edward Nelson Senior Adviser Program Direction
Monetary Affairs

Borghan N. Narajabad Chief Systemic Financial Institutions and Markets
Research and Statistics

Thien T. Nguyen Senior Economist Financial and Macroeconomic Stability Studies
Financial Stability

Giovanni Nicolò Principal Economist Monetary Studies
Monetary Affairs

Marcelo Ochoa Principal Economist Monetary and Financial Market Analysis
Monetary Affairs

Hyunseung Oh Principal Economist Advanced Foreign Economies
International Finance

Scott W. Ohlmacher Senior Economist Industrial Output
Research and Statistics

Musa Orak Principal Economist Advanced Foreign Economies
International Finance

Jake D. Orchard Economist Prices and Wages
Research and Statistics

Anna Orlik Principal Economist Monetary Studies
Monetary Affairs

Julio L. Ortiz Economist Advanced Foreign Economies
International Finance

Andrew D. Paciorek Chief Household and Business Spending
Research and Statistics

Dino Palazzo Principal Economist Capital Markets
Research and Statistics

Nathan M. Palmer Senior Economist Banking, Credit and Operational Risk
Supervision and Regulation

Francisco Palomino Chief Capital Markets
Research and Statistics

Michael G. Palumbo Senior Associate Director Program Direction
Research and Statistics

Matthias O. Paustian Assistant Director Program Direction
Research and Statistics

Ekaterina Peneva Assistant Director / Chief Prices and Wages
Research and Statistics

Ander Perez-Orive Principal Economist Macro-Financial Analysis
Monetary Affairs

Maria G. Perozek Chief Flow of Funds
Research and Statistics

William B. Peterman Chief Fiscal Analysis
Research and Statistics

Eugénio Pinto Group Manager Household and Business Spending
Research and Statistics

Ignacio Presno Principal Economist Global Modeling Studies
International Finance

Charles D. Press Senior Quantitative Analyst II Supervision - Stress Testing
Supervision and Regulation

Andrea Prestipino Senior Economist Global Modeling Studies
International Finance

Albert Queralto Chief Global Modeling Studies
International Finance

Ben Ranish Principal Economist Banking, Credit and Operational Risk
Supervision and Regulation

David E. Rappoport Principal Economist Macroprudential Policy Analysis
Financial Stability

David D. Ratner Principal Economist Fiscal Analysis
Research and Statistics

Trevor A. Reeve Director Program Direction
Monetary Affairs

Marcelo Rezende Principal Economist Financial Structure
Research and Statistics

Bryan J. Ricketts Fin Inst Policy Analyst III Supervision - Large Institution Supervisory Coordinating Committee
Supervision and Regulation

Daniel R. Ringo Principal Economist Real Estate Finance
Research and Statistics

Patrice T. Robitaille Principal Economist Emerging Market Economies
International Finance

Chase P. Ross Senior Economist Macroprudential Policy Analysis
Financial Stability

Sharon Y. Ross Senior Economist Global Financial Markets
International Finance

Gisela Rua Principal Economist Industrial Output
Research and Statistics

Jeremy Rudd Senior Adviser Program Direction
Research and Statistics

Romina D. Ruprecht Senior Economist Money Market Analysis
Monetary Affairs

Erick Sager Senior Economist Macroeconomic and Quantitative Studies
Research and Statistics

Zina B. Saijid Lead Financial Analyst Advanced Foreign Economies
International Finance

Francisca Sara-Zaror Economist Prices and Wages
Research and Statistics

Bernd Schlusche Principal Economist Money Market Analysis
Monetary Affairs

Andres Schneider Economist Financial and Macroeconomic Stability Studies
Financial Stability

Immo Schott Senior Economist Global Modeling Studies
International Finance

Zeynep Senyuz Deputy Associate Director Program Direction
Monetary Affairs

Young Hwa Seok Economist Stress Testing
Supervision and Regulation

Michael Siemer Principal Economist Macroeconomic and Quantitative Studies
Research and Statistics

Jae W. Sim Principal Economist Macroeconomic and Quantitative Studies
Research and Statistics

Nitish R. Sinha Group Manager Capital Markets
Research and Statistics

Arsenios Skaperdas Principal Economist Money Market Analysis
Monetary Affairs

Simon C. Smith Senior Economist Prices and Wages
Research and Statistics

Michael Smolyansky Principal Economist Capital Markets
Research and Statistics

Oleg V. Sokolinskiy Senior Economist Monetary and Financial Market Analysis
Monetary Affairs

Mariano A. Somale Senior Economist Trade and Quantitative Studies
International Finance

Kamila Sommer Chief Consumer Finance
Research and Statistics

Viktors Stebunovs Deputy Associate Director Program Direction
International Finance

Irina Stefanescu Group Manager Flow of Funds
Research and Statistics

Andrea Stella Principal Economist Current Macroeconomic Conditions
Research and Statistics

John J. Stevens Senior Associate Director Program Direction
Research and Statistics

Brad E. Strum Principal Economist Prices and Wages
Research and Statistics

Mary-Frances Styczynski Lead Fin Inst Policy Analyst Monetary Policy Operations and Analysis
Monetary Affairs

Nathan Swem Principal Economist Financial Stability Assessment
Financial Stability

Balint Szoke Economist Macro-Financial Analysis
Monetary Affairs

Hiroatsu Tanaka Principal Economist Monetary and Financial Market Analysis
Monetary Affairs

Manjola Tase Principal Economist Money Market Analysis
Monetary Affairs

Thiago R. T. Ferreira Group Manager Advanced Foreign Economies
International Finance

Robert J. Tetlow Senior Adviser Program Direction
Monetary Affairs

Stacey Tevlin Director Program Direction
Research and Statistics

Yannick Timmer Principal Economist Macro-Financial Analysis
Monetary Affairs

Andreas Tischbirek Principal Economist Macroeconomic and Quantitative Studies
Research and Statistics

Maria D. Tito Group Manager Industrial Output
Research and Statistics

Nick Turner Principal Economist Fiscal Analysis
Research and Statistics

Pinar Uysal Principal Economist Global Financial Institutions
International Finance

Skander Van den Heuvel Associate Director Program Direction
Financial Stability

Alexandros Vardoulakis Chief Macroprudential Policy Analysis
Financial Stability

Francisco Vazquez-Grande Group Manager Macro-Financial Analysis
Monetary Affairs

Mateo Velásquez-Giraldo Economist Macroeconomic and Quantitative Studies
Research and Statistics

Stéphane Verani Principal Economist Systemic Financial Institutions and Markets
Research and Statistics

Ivan Vidangos Chief Labor Markets
Research and Statistics

Diego Vilán Senior Economist Macroeconomic and Quantitative Studies
Research and Statistics

Sergio Villalvazo Senior Economist Financial and Macroeconomic Stability Studies
Financial Stability

Daniel Villar Principal Economist Prices and Wages
Research and Statistics

Daniel J. Vine Principal Economist Prices and Wages
Research and Statistics

Annette Vissing-Jorgensen Senior Adviser Program Direction
Monetary Affairs

Ashley Wang Chief Short-Term Funding Markets
Research and Statistics

Jessie Wang Principal Economist Banking and Financial Analysis
Monetary Affairs

William L. Wascher Deputy Director Program Direction
Research and Statistics

Min Wei Senior Associate Director Program Direction
Monetary Affairs

Colin R. Weiss Principal Economist Global Financial Flows
International Finance

Beth Anne Wilson Director Program Direction
International Finance

Fabian Winkler Principal Economist Monetary Studies
Monetary Affairs

Paul R. Wood Senior Associate Director Program Direction
International Finance

Ines M. Xavier Economist Macro-Financial Analysis
Monetary Affairs

Ram S. Yamarthy Senior Economist Capital Markets
Research and Statistics

Choongryul Yang Senior Economist Prices and Wages
Research and Statistics

Jie Yang Group Manager Capital Markets
Research and Statistics

Vladimir L. Yankov Senior Economist Financial Institution Risk Evaluation
Financial Stability

Emre Yoldas Deputy Associate Director Program Direction
International Finance

Mike Zabek Senior Economist Consumer and Community Research
Consumer and Community Affairs

David L. Zeke Senior Economist Capital Markets
Research and Statistics

Tony Zhang Principal Economist Global Financial Markets
International Finance

Molin Zhong Principal Economist Financial and Macroeconomic Stability Studies
Financial Stability

Andrei Zlate Group Manager Banking and Financial Analysis
Monetary Affairs

Sarah Zoi Economist Financial and Macroeconomic Stability Studies
Financial Stability

Last Update: March 24, 2025

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Macroeconomics