Company

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland’s mission is to foster the stability, integrity, and efficiency of the nation’s monetary, financial, and payment systems while representing the Fourth District perspectives.

As part of the nation’s central bank, we are a team of mission-driven professionals who are committed to serving with excellence. Our core values are: Build Trust Every Day, Own Our Actions, Collaborate with Intention, and Be Open to Change.

For twenty-six years in a row, we’ve been named “One of Northeast Ohio’s Best Places to Work” by North Coast 99. This prestigious award honors organizations with outstanding employment practices, including compensation, benefits, training, recruitment, retention, community services, and employee communications.

Follow us on LinkedIn, Twitter, Instagram, and our YouTube channel – Cleveland Fed

The Research Department of the Federal Reserve Bank of Cleveland offers a paid internship to a Ph.D. candidate at the stage of writing a dissertation in the fields of macroeconomics, monetary economics, labor economics, or banking and finance. The intern has the opportunity to interact with professionals in a stimulating research environment and attend the Department’s invited seminar series.

The internship will take place in-person between June-September 2026, for 10-12 weeks (dates flexible). The Department provides a computer and technical support. The intern is expected to give a seminar on their dissertation topic at the beginning of their visit and a second seminar near the end to highlight progress made.

Applications are open to Ph.D. candidates from all U.S. Ph.D.-granting colleges and universities. Applicants must have passed their qualifying examinations and be at the dissertation stage of their program. As a condition of employment, candidates must undergo a background check and will be tested for all controlled substances prohibited by federal law, to include marijuana, prior to hire.

The expected starting hourly rate for the PhD intern is $35.00. Final salary and offer will be determined by the applicant’s background, experience, skills, internal equity, and market data.

The Cleveland Fed offers benefits to support overall health and financial security. Learn more about our benefits here: https: //www.clevelandfed.org/careers

Physical Demands and General Working Conditions

This is not necessarily an exhaustive list of all responsibilities, duties, standards or requirements, efforts, skills or working conditions associated with the job. While this is intended to be an accurate reflection of the current job, the Federal Reserve Bank of Cleveland reserves the right to revise this or any job description at any time.

Reasonable Accommodation Statement - The Federal Reserve Bank of Cleveland is committed to ensuring that individuals with disabilities are provided with reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. To request a reasonable accommodation for any part of the employment process, please send an email to clev.4d.benefits.specialist@clev.frb.org.

Bank’s Ethics Rules and Drug Testing:

As a condition of employment, Federal Reserve Bank of Cleveland employees must comply with the Bank’s ethics rules which generally prohibit employees, their spouses/domestic partners, and minor children from owning or controlling, directly or indirectly, any debt or equity interest in a depository institution or an affiliate of a depository institution. A "depository institution" means a bank, a trust company, or any institution that accepts deposits, including a bank chartered under the laws of a foreign country. In addition, employees (and their spouses/domestic partners, and minor children) may not own shares of mutual funds, unit investment trusts or ETFs that have a policy, as stated in the prospectus, of concentrating in the financial services industry and that have underlying investments in banks or other depository institutions. If you or your spouse/domestic partner or minor child own such securities and would not be willing or able to divest them if you accepted an offer of Bank employment, you should raise this issue with the recruiter for this posting.

In addition, as a condition of employment, candidates must undergo a background check and will be tested for all controlled substances prohibited by federal law, to include marijuana, prior to hire and for certain safety sensitive positions during employment.

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Always verify and apply to jobs on Federal Reserve System Careers or through verified Federal Reserve Bank social media channels

Full Time / Part Time

Full time

Regular / Temporary

Temporary

Job Exempt (Yes / No)

No

Job Category

Internship Family Group

Work Shift

First (United States of America)

The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https: //rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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