Research analysts (RAs) play an important role in the Research Department at the Federal Reserve Bank of Cleveland. RAs work alongside PhD economists and learn the ins and outs of creating economic research, develop marketable skills, and build human capital. RAs typically spend two to three years working at the Fed, and most pursue a graduate degree in economics upon departure.
Our recruiting cycle for research analysts at the Cleveland Fed typically runs from September through November, with RAs starting in June or July of the following year. Applications for summer internships follow a similar schedule.
The primary responsibility of RAs is to support the research of two or three economists within the department. Research economists at the Cleveland Fed are largely divided into four groups (microeconomics, macroeconomic policy, macroeconomic forecasting, and banking and finance), but RAs are not confined to a single group. This gives RAs flexibility to work with economists within or across groups. The economist pairings connect RAs with strong mentors and provide the opportunity to coauthor academic papers and Bank publications.
Prospective candidates should have a bachelor’s degree in economics or a closely related field such as statistics, mathematics, or computer science. While interests in monetary policy and macroeconomics are preferred, they are not required. To effectively perform day-to-day tasks, working knowledge of econometric and statistical packages such as Stata, MATLAB, R, and/or Python is vital. Prior research experience in economics and a strong mathematics background are strongly preferred. Candidates must be US citizens, US nationals, or lawful permanent resident aliens (green card holders).