Senior Business Economist/Business Economist

Company

Federal Reserve Bank of Chicago

The Federal Reserve Bank of Chicago is one of 12 Reserve Banks that, along with the Board of Governors in Washington, D.C., constitute the Federal Reserve System, which was established by Congress in 1913.

The fundamental mission of the Federal Reserve System is to foster the stability, integrity and efficiency of the nation's monetary, financial and payment systems and to promote optimal economic performance.

To this end, the Federal Reserve Bank of Chicago serves the public interest by participating in the formulation and implementation of national monetary policy; supervising and regulating state member banks, bank holding companies and foreign bank branches; providing financial services to depository institutions, designated financial market utilities, and the U.S. government; and promoting consumer protection and community development.

The Chicago Fed serves the Seventh Federal Reserve District, a five-state region comprising all of Iowa and most of Illinois, Indiana, Michigan and Wisconsin.

As a Business Economist and member of a collegial team, you will support monetary policy and outreach by gathering and sharing information about the regional economy and its key sub-geographies and sectors, such as manufacturing, agriculture, automotive, and industrial cities. You will work with policy professionals across the Chicago and Detroit offices, conducting research and analysis on regional economic conditions and sector-specific trends, engaging with business and community leaders, supporting surveys and roundtables, and helping translate boots-on-the-ground economic perspectives into insights for policymakers. You will gain valuable exposure to monetary policy, while developing your skills in economic analysis, engagement with different constituents, and professional communication.

This position applies knowledge of regional economics and research methods and is considered an intermediate level position. The incumbent works under general supervision from more senior team members. This job does not have any direct reports.

Your Responsibilities

• Supports planning and facilitation of district economic roundtables (the team conducts approximately 32 per year), Advisory Council meetings, and conferences, including logistics coordination, participant recruitment and outreach, and materials preparation
• Supports survey programs including the quarterly Agricultural Land Values and Credit Conditions Survey and the monthly Chicago Fed Survey of Economic Conditions (CFSEC) by recruiting and managing survey participants, assisting with data collection, and conducting preliminary analysis
• Gathers economic intelligence through phone and email outreach to business contacts and other constituents. Conducts site visits to businesses and communities, documenting observations and maintaining contact records
• Contributes to preparation of the Seventh District’s section of the Beige Book, the Federal Reserve’s report on anecdotal information regarding current economic conditions, by summarizing roundtable notes, analyzing survey results, and drafting sections under guidance of senior team members
• Assists in preparing contact engagement summaries and sector updates for FOMC preparation materials based on economic intelligence gathered from multiple sources
• Contributes content to Fed publications and helps maintain regional content on the website
• Supports preparation of briefing materials related to Bank senior leadership meetings around the district and to Detroit Board of Directors meetings
• Conducts research on topics relevant to the district economy under guidance of senior professionals
• Develops analytical skills by supporting economic presentations and outreach to community groups, educational institutions, and local organizations
• Develops knowledge of key sectors of the regional economy such as manufacturing, automotive, agricultural conditions, regional growth, or real estate markets

Your Background

• Bachelor's degree in Economics, Business, Agricultural Economics, Finance, or related field required; Master's degree preferred
• Minimum two years of work experience in research, analysis, business, or related field
• Interest in regional economics, business trends, and public policy and desire to develop deep expertise in one or more economic sectors
• Knowledge of economic concepts and analytical methods
• Knowledge of qualitative and quantitative research methods and statistical software
• Strong written and verbal communication skills with ability to explain economic information clearly
• Good interpersonal skills with ability to interact professionally with diverse constituents
• Strong organizational skills and attenti