Scott Sherman
Policy Advisor, Reference Rates,
Market Operations Monitoring and Analysis
- Where are you from? Somerville, New Jersey
- What is your educational background? I received a B.A. in Latin American studies and an M.B.A. in finance, both from Columbia University.
- When did you start at the Bank? 2004, as an intern, 2005 as a full-time employee.
- What do you do at the Bank?
I manage the team that develops and publishes the New York Fed’s suite of reference rates, which includes the Effective Fed Funds Rate, the Overnight Bank Funding Rate, and three rates reflecting activity in the Treasury repo market, the broadest of which (the Secured Overnight Financing Rate) was selected as the preferred alternative to U.S. Dollar LIBOR.
- Why do you like working here?
I worked in the private sector prior to joining the Fed and also returned to the private sector for about three years from 2010-2013. In comparison, here I feel there is a very different sense of purpose to what I do. At the end of each day, I go home feeling like I made a difference for my country.
- Why is the Fed a good place to work? The Fed is a collaborative place where the best ideas tend to win out and the collective effort has an impact on society.
- What do you do in your free time? I enjoy vacationing with my family, playing video games with my kids, taking my Jeep off-road, and cheering for the Steelers.
I manage the team that develops and publishes the New York Fed’s suite of reference rates, which includes the Effective Fed Funds Rate, the Overnight Bank Funding Rate, and three rates reflecting activity in the Treasury repo market, the broadest of which (the Secured Overnight Financing Rate) was selected as the preferred alternative to U.S. Dollar LIBOR.
I worked in the private sector prior to joining the Fed and also returned to the private sector for about three years from 2010-2013. In comparison, here I feel there is a very different sense of purpose to what I do. At the end of each day, I go home feeling like I made a difference for my country.
