Grant Murphy-Herndon
Rotational Analyst,
Market Operations Monitoring and Analysis
- Where are you from? Durham, NC
- What is your educational background? I have a B.A. in economics from Northwestern University.
- When did you start at the Bank? I first started working for the Bank in 2017, as a summer intern in the Chicago office, and then returned as a full-time RA in the Chicago office in 2018.
- What do you do at the Bank?
My role has varied work streams, and I split my time across many projects. A core area of our work is market monitoring, and I produce daily materials that allow Markets Group staff and officers track the ecosystem of funding markets. Another is Open Market Operations, and I take part in our overnight reverse repurchase operation and create analytics on its impact in the market. The third core function of my team is creating longer form analysis of key players and events in the global markets. I’ve found this to be a very rewarding and interesting way to both learn more about the intricacies of different markets and to take what I learn from any analysis and share that with our team, ultimately giving each project a chance to offer policymakers the most informed view of financial markets possible.
A project I worked on as an intern here in Chicago was tracking U.S. inflation indicators and projections from across the globe. I spoke with traders and staff across many banks and investment groups to highlight what market participants consider the most important contributors to inflation. While many projects are strictly internal, the Markets Group has valuable connections all across the world and in many industries. Exposure to this network is just one example of what even very junior employees can leverage to create exciting work.
- Why do you like working here? The working environment at the Bank is very open. My coworkers are curious, hardworking, and inclusive. People here are encouraged to chase after projects that interest them, and we are all more productive because of it. A particular advantage of the size of our Chicago office is because that we all know each other, whenever I become curious about any area of the markets or the financial system more generally, I know I’ll be able to find an expert in that area somewhere in the Markets Group.
- What are the attributes for someone who would be a good fit for the Fed? Anyone who is inquisitive and energetic will fit in well here, even without much finance or economics experience. Interest in public service is also important.
- What do you do in your free time? In my free time I enjoy bouldering, SCUBA diving when I get the chance, and travelling.
My role has varied work streams, and I split my time across many projects. A core area of our work is market monitoring, and I produce daily materials that allow Markets Group staff and officers track the ecosystem of funding markets. Another is Open Market Operations, and I take part in our overnight reverse repurchase operation and create analytics on its impact in the market. The third core function of my team is creating longer form analysis of key players and events in the global markets. I’ve found this to be a very rewarding and interesting way to both learn more about the intricacies of different markets and to take what I learn from any analysis and share that with our team, ultimately giving each project a chance to offer policymakers the most informed view of financial markets possible.
A project I worked on as an intern here in Chicago was tracking U.S. inflation indicators and projections from across the globe. I spoke with traders and staff across many banks and investment groups to highlight what market participants consider the most important contributors to inflation. While many projects are strictly internal, the Markets Group has valuable connections all across the world and in many industries. Exposure to this network is just one example of what even very junior employees can leverage to create exciting work.
