Company

Federal Reserve Bank of Cleveland

Job Description Summary
The Federal Reserve Bank of Cleveland’s mission is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems while representing the Fourth District perspectives.

As part of the nation’s central bank, we are a team of mission-driven professionals who are committed to serving with excellence. Our core values are: Build Trust Every Day, Own Our Actions, Collaborate with Intention, and Be Open to Change.

For twenty-six years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

Follow us on LinkedIn, Twitter, Instagram, and our YouTube channel – Cleveland Fed

Job Description

Stand at the intersection of cutting-edge economic research and real-world policy impact. As an Economic Analyst with the Federal Reserve Bank of Cleveland, you'll be the vital link between data-driven insights and the monetary policy decisions that shape our nation's economic future.
Your research won't gather dust on a shelf—it will directly inform the Bank president's contributions to the Federal Open Market Committee (FOMC) and shed light on the unique economic dynamics of the Fourth District: Ohio, eastern Kentucky, western Pennsylvania, and the northern panhandle of West Virginia.

What Makes This Role Exceptional

Direct Policy Impact: Your analysis will help guide monetary policy decisions at the highest levels. You'll contribute to FOMC briefings and the Federal Reserve’s Beige Book, ensuring regional voices are heard in national economic conversations.

Intellectual Stimulation: Balance collaborative research projects with policy work. Pursue questions that matter to you while building insight into the economic challenges and opportunities facing the region.

Regional Focus with National Reach: Dive deep into the economic fabric of America's industrial heartland—a region undergoing dynamic transformation—while contributing to discussions of national significance.

Bridge Building: Master the art of translation, turning sophisticated econometric analyses into compelling narratives that resonate with policymakers, business leaders, and the public.

Your Impact

As a Researcher, you'll:

• Help identify and answer open questions that matter to policymakers and the public
• Design and execute innovative research methodologies to unpack complex economic questions
• Wrangle diverse datasets to uncover hidden trends and relationships in regional and national economies
• Conduct statistical and econometric analyses that stand up to rigorous academic and policy scrutiny
• Collaborate on research projects from conception through publication with the level of independence increasing with experience and demonstrated ability

As a Policy Advisor, you'll:

• Provide critical insights on Fourth District economic conditions
• Support the Bank president's preparation for FOMC meetings with timely analysis
• Contribute expert perspective to the nationally distributed Beige Book
• Help translate regional economic realities into policy implications

As a Storyteller, you'll:

• Author/co-author compelling articles and reports that bring economic data to life
• Craft presentations that make complex concepts accessible and engaging
• Communicate with diverse audiences—from community stakeholders to PhD economists
• Build the public's understanding of regional economic trends and the Federal Reserve System through clear, thoughtful writing and presentations

What You Bring

Educational Foundation:

• Master’s degree in economics or related field, preferred
• Bachelor's degree in economics or related field with significant relevant work experience considered

Professional Experience:

• 5+ years conducting economic or policy research
• Demonstrated expertise in one or more economic fields
• Familiarity with monetary policy and macroeconomics

Technical Excellence:

• Strong command of statistical methods and econometric techniques
• Proficiency with analytical tools (Stata, R, Python, or similar)
• Experience managing and analyzing complex datasets

Communication Mastery:

• Exceptional writing skills with a proven ability to make technical content accessible
• Track record of research publication or policy communication
• Confidence presenting to both technical and non-technical audiences

Working Style:

• Equally effective working independently and as part of a collaborative team
• Intellectual curiosity and a creative, proactive problem-solving approach
• Commitment to rigorous, objective analysis

To Apply: Please include the following in PDF file format: (1) a current resume or CV, (2) a sample of recent economic or policy publication, and (3) a statement of no more than 3 pages outlining your interest in and qualifications for this position.

The expected starting salary range for the Economic Analyst I is between ​$90,500 and $113,100 annually and for the Economic Analyst II is between $111,400 and $139,200. Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and market data.

The Cleveland Fed offers benefits to support overall health and financial security. Learn more about our benefits here: https://www.clevelandfed.org/careers

Citizenship Requirements:

This position requires access to confidential supervisory information and/or FOMC information, which is limited to “Protected Individuals” as defined in the U.S. federal immigration law. Protected individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. In addition, all candidates must undergo an enhanced background check and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.

Physical Demands and General Working Conditions            

This is not necessarily an exhaustive list of all responsibilities, duties, standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, the Federal Reserve Bank of Cleveland reserves the right to revise this or any job description at any time. 

Reasonable Accommodation Statement - The Federal Reserve Bank of Cleveland is committed to ensuring that individuals with disabilities are provided with reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. To request a reasonable accommodation for any part of the employment process, please send an email to clev.4d.benefits.specialist@clev.frb.org.

Bank’s Ethics Rules and Drug Testing:

As a condition of employment, Federal Reserve Bank of Cleveland employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning or controlling, directly or indirectly, any debt or equity interest in a depository institution or an affiliate of a depository institution. A "depository institution" means a bank, a trust company, or any institution that accepts deposits, including a bank chartered under the laws of a foreign country. In addition, employees (and their spouses/domestic partners, and minor children) may not own shares of mutual funds, unit investment trusts or ETFs that have a policy, as stated in the prospectus, of concentrating in the financial services industry and that have underlying investments in banks or other depository institutions.  If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting.

In addition, as a condition of employment, candidates must undergo a background check and will be tested for all controlled substances prohibited by federal law, to include marijuana, prior to hire and for certain safety sensitive positions during employment.  

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Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels

Full Time / Part Time

Full time

Regular / Temporary

Regular

Job Exempt (Yes / No)

Yes

Job Category

Economics/Research Family Group

Work Shift

First (United States of America)

The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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