Duties

Typically, an economist is involved in activities that support the Board's efforts in monetary policy and financial regulation: the analysis and forecasting of developments in the domestic and international economies and financial markets, analysis of options for regulatory decisions, development and maintenance of relevant economic data, or long-range research aimed at improving the theoretical and quantitative analysis used at the Board and by the economics profession generally.

About the Role

The Federal Reserve Board's Industrial Output (IO) team seeks an economist to contribute to the production and ongoing innovations to the Board's G.17 Statistical Release on Industrial Production and Capacity Utilization (IP/CU). The new team member will also be expected to provide support to other efforts to measure the evolving industrial economy.

The Federal Reserve maintains high standards for its statistics, and the IP/CU team is professional, collegial, and intellectually curious. This individual will be a key member of the team and expected to perform several functions related to the production, dissemination, and analysis of the Board's monthly IP/CU statistics. The main responsibilities include:

• Learning and running the processes to produce the Board's monthly statistics on industrial production and capacity utilization.
• Use knowledge of time series econometrics to process and standardize data series tracked at different frequencies and perform seasonal adjustment on these data.
• Develop and implement improvements both to the measurement of industrial production or capacity utilization as well as the IP/CU infrastructure, particularly as the industrial sector evolves and data availability changes.
• Conduct economic analysis and research on the industrial sector and deliver oral and written presentations to senior Federal Reserve officials.
• Communicate with Board officials and members of the public.

• Strong programming skills, strong data and measurement skills, and an understanding of economics and time series econometrics.
  • The IP/CU system is currently implemented using the MarketMap Analytic Platform from MathWorks (formerly FAME) for its main databases and as its primary programming environment. The new hire is not expected to have familiarity with MarketMap/FAME, but a willingness to learn it and consider how any code they write will interact with the existing data and coding infrastructure is needed.
• This team member is expected to provide oral and written updates on the state of the industrial sector to Federal Reserve officers, colleagues, and members of the public, requiring strong communication skills.
• Ability to work collaboratively and independently.
• This team member will work closely with the small team that produces the IP/CU statistics. At times, the new hire will also need to work independently and with little supervision.
• Ability to foster a creative, cooperative, and inclusive team environment where diverse viewpoints are welcomed and respected.

• Possess an interest in economic measurement and the macroeconomy.
• Be proficient in time series econometrics and seasonal adjustment practices.
• Be able to develop thoughtful and creative ways to use data to address questions about economic activity.
• Have a careful eye for detail, particularly with respect to data.
• Have an understanding of micro- and macro-economic relationships.
• Have excellent written and oral communication skills.
• Be comfortable working both collaboratively and independently.

Requirements

Conditions of Employment

All employees of the Federal Reserve Board must be U.S. citizens or intending citizens.

Non-U.S. citizens will be required to sign a declaration of intent to pursue U.S. citizenship when eligible to do so as a stipulation of employment. In addition, non-green card holders who are citizens of certain restricted countries are ineligible for employment.

How You Will Be Evaluated

• Benefits

  Review our benefits

• Required Documents

  As a new or existing federal employee, you and your family may have access to a range of benefits. Your benefits depend on the type of position you have - whether you're a permanent, part-time, temporary or an intermittent employee. You may be eligible for the following benefits, however, check with your agency to make sure you're eligible under their policies.

  • Curriculum Vitae (CV).
  • Job Market paper or publication of your choice.
  • Three (3) letters of recommendation.
  • Diversity Statement (see description in the "How to Apply" instructions).

  If you are relying on your education to meet qualification requirements:

  Education must be accredited by an accrediting institution recognized by the U.S. Department of Education in order for it to be credited towards qualifications. Therefore, provide only the attendance and/or degrees from schools accredited by accrediting institutions recognized by the U.S. Department of Education.

  Failure to provide all of the required information as stated in this vacancy announcement may result in an ineligible rating or may affect the overall rating.

• How to Apply

  Apply on agency careers site: https://frbog.taleo.net/careersection/1/jobdetail.ftl?lang=en&job=23438.
  
  1. Before submitting your application, attach the following to your application profile:
  
  a. Curriculum Vitae (CV).
  b. Job Market paper or publication of your choice.
  c. Three (3) letters of recommendation.
  d. Diversity Statement: a brief discussion (anything from a paragraph to a page) of your perspective on diversity and inclusion (D&I), including how you have sought out diverse viewpoints in your work, collaborated with people with different backgrounds and experiences, worked with individuals or groups focused on D&I issues, or conducted research on D&I related topics, such as differences in economic outcomes or experiences across groups. Please also include any thoughts on how you could help foster an inclusive environment featuring an open exchange of ideas from a variety of backgrounds and perspectives. If you have already developed a similar statement for another institution, including academic institutions, please feel free to submit that statement rather than prepare a new one.
  
  2. See our JOE Listing for additional details about economist recruitment and work at the Board.
  
  3. Applications will be considered through January 30, 2023.
  
  a. Questions can be sent to IOeconrecruitment@frb.gov
  
  The Federal Reserve Board is an equal opportunity employer and is committed to supporting and fostering diversity within the broader economics research community.

  Agency contact information

  Human Resources

  Email

  IOeconrecruitment@frb.gov

  Address

  Federal Reserve Board of Governors
  Constitution Ave NW and 20th Street Northwest
  Washington, DC 20551
  US

  Next steps

  Applications will be reviewed through 1/30/23 and you may be invited for an interview anytime between now and February 2023.

• Fair and Transparent

  The Federal hiring process is set up to be fair and transparent. Please read the following guidance.

  • Equal Employment Opportunity (EEO) Policy
  • Reasonable accommodation policy
  • Financial suitability
  • Selective Service
  • New employee probationary period
  • Signature and false statements
  • Privacy Act
  • Social security number request

Required Documents

Clarification from the agency

This job requires a Public Trust Background Investigation.