Welcome
I am Chief of the Macro-Financial Analysis section in the Division of Monetary Affairs at the Board of Governors of the Federal Reserve System.
I was also an adjunct professor at Johns Hopkins University in 2018, and taught Macroeconomic Theory in the Masters' in Applied Economics program.
Here you can find my official webpage at the Board.
My primary research fields are Macroeconomics, Financial Economics and Applied Econometrics.
Recent Activity
May 2023
"More than Words: Twitter Chatter and Financial Market Sentiment" with Travis Adams, Diego Silva, and Francisco Vazquez-Grande is available here.
Press Coverage: Bloomberg, WSJ "Real Time Economics" Newsletter
February 2022
New FEDS Working Paper "Financial Stability Considerations for Monetary Policy: Theoretical Mechanisms", with Nina Boyarchenko, François Gourio, and Andrea Tambalotti
June 2020
New FEDS Working Paper "Monetary Policy Tradeoffs and the Federal Reserve's Dual Mandate", with Isabel Cairó, Vasco Cúrdia, Thomas A. Lubik, and Albert Queralto
February 2019
Core and Crust was accepted for publication in the Review of Financial Studies.
December 2017
Financial Stability and Optimal Interest-Rate Policy was accepted for publication in the International Journal of Central Banking.
Visited
Winter 2016 - 2017
Visited the Chicago Fed and the London School of Economics while on sabbatical leave from the Federal Reserve Board.
Presented 'Term Premium, Credit Risk Premium, and Monetary Policy' at the Chicago Fed, University of York, London School of Economics, Bank of Italy, University of Oxford.
September 2016
Presented 'Term Premium, Credit Risk Premium, and Monetary Policy'. Find the slides from the Dynare Conference here.
August 2016
'Financial Intermediation, Investment Dynamics and Business Cycle Fluctuations', was published in the August 2016 volume of the American Economic Review.
September 2015
Presented new work on Financial Stability and Optimal Interest-Rate Policy at the annual Swiss National Bank Research Conference.
April 2015
Ben Bernanke reviews our work on financial stability and optimal interest-rate policy on his blog.
March 2015
Presented new work on Financial Stability and Optimal Interest-Rate Policy at the annual San Francisco Fed Macroeconomic Conference "The New Normal for Monetary Policy".
February 2015
New Paper Available. Comments are welcome!
Financial Stability and Optimal Interest-Rate Policy, with Thomas Laubach, David López-Salido and Taisuke Nakata
August 2014
Financial Intermediation, Investment Dynamics and Business Cycle Fluctuations, second revision requested at the American Economic Review.
July 2013
Core and Crust: Consumer Prices and the Term Structure of Interest Rates was presented at the NBER Summer Institute (Asset Pricing meeting) in Cambridge, MA.
Contacts
Email: andrea.ajello [at] frb.gov
Title: Section Chief
Mailing address:
Board of Governors of the Federal Reserve System,
Division of Monetary Affairs, Macro Financial Analysis
1801 K Street NW
Washington DC, 20006
Last update: April 2015