Research Analysts

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.

Qualifications

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).

The primary role of RAs is to work with economists on research projects. They also assist in developing presentations for briefings on economic policy. RAs use econometric and statistical packages such as Stata, MATLAB, R, and/or Python to perform statistical and econometric analyses. They collect and organize data from a variety of sources, review academic papers, and engage in discussions with economists. They may also summarize data and anecdotal information on regional economic conditions and prepare educational outreach materials.

Research analysts also assist in preparing briefing materials before each meeting of the Federal Open Market Committee (FOMC), along with maintaining indicators and data that are published on the Cleveland Fed’s website.

• You can live close to work!
• Cleveland is affordable — you can feasibly work in downtown Cleveland and live in nearby neighborhoods or surrounding suburbs.
• RTA, which includes both light rail and buses, allows you to maneuver around the city and surrounding areas
• Large theater district (Playhouse Square—2nd largest to NYC)
• Lots of outdoor activities (Cleveland Metroparks, Cleveland Botanical Garden, the Holden Arboretum, Edgewater Beach, Cuyahoga Valley National Park)
• 3 major professional sports teams to cheer on (NBA, MLB, NFL)
• Museums (Rock & Roll Hall of Fame, Great Lakes Science Center, Cleveland Museum of Art, Museum of Contemporary Art, etc.)
• Multiple college options to best fit your academic needs
• West Side Market
• Little Italy

Neighborhoods

Cleveland is bisected by the Cuyahoga River running north/south and bordered by Lake Erie to the north. Research analysts most often choose one of the following six neighborhoods to live in, and all offer a variety of arts and entertainment opportunities.