About Economic Research

The Economic Research Department conducts research on a wide range of topics in support of the Federal Reserve Bank’s policy and public outreach functions. It is organized into six broad sections: macro analysis and economic geography; macroeconomic research; microeconomic research; international research; financial research; and sustainable growth. Staff members include 33 PhD economists, an associate economist and an economic analyst, and 18 research associates who are recent graduates from colleges across the country. Additional staff members provide support of information technology, copy editing, administrative, and archival services.

As a way to further its research mission, the department has an active visitor program and is host to the Center for Pacific Basin Studies. The Center seeks to promote cooperation among central banks in the Pacific Basin and provide insight into and analysis of economic policy issues affecting the region.


Sylvain Leduc
Executive Vice President and Director of Research

Robert G. Valletta
Senior Vice President and Associate Director of Research

Òscar Jordà
Senior Policy Advisor

Mark M. Spiegel
Group Vice President, International Research

Zheng Liu
Vice President, International Research

Thomas Mertens
Vice President, Financial Research

Fernanda Nechio
Vice President, Sustainable Growth Research

Nicolas Petrosky-Nadeau
Vice President, Macroeconomic Research

Adam Shapiro
Vice President, Macro Analysis and Economic Geography

Daniel Wilson
Vice President, Microeconomic Research

In This Section

Economists and Visiting Scholars
Research Associate program