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James J. McAndrews
James J. McAndrews is an executive vice president of the Federal Reserve Bank of New York and head of the Research and Statistics Group, which is responsible for producing analysis and collecting data in support of the Bank's missions relating to monetary policy, banking supervision, payments systems and financial stability.
Mr. McAndrews serves as director of research, is a member of the Bank’s Management Committee and is an associate economist of the Federal Open Market Committee. He had been the director of financial research since January 2010. In that role he was responsible for leading the group’s analysis of capital and banking market issues. Mr. McAndrews has played a prominent role in the New York’s Fed responses to the financial crisis and in the analysis of financial stability issues. He contributed to the design of a number of the Fed’s lending facilities and to the bank’s financial stability efforts more generally.
Mr. McAndrews joined the Bank as a senior economist in 1997 after having served as a senior economist and research advisor at the Federal Reserve Bank of Philadelphia. He was named an officer of the New York Fed in June 1998. He has served as a consulting economist to the Bank of Japan, Bank of England, Reserve Bank of Australia, the Swedish Riksbank and the World Bank.
Mr. McAndrews’ research interest includes the economics of money, banking, payments, monetary policy implementation and the liquidity of markets. He has analyzed and provided advice on many policy issues related to those areas for the Federal Reserve, and has conducted research in them as well. Recent topics have included the role of large reserve balances and bank lending, the transmission of interest paid on reserves, alternative means of providing stable funding sources in banking and the regulation of bank liquidity.
He holds a bachelor’s degree and a doctorate degree in economics from the University of Iowa.