According to Mike Taft of RVK, the “Markets Group” is an important unit of the Federal...

According to Mike Taft of RVK, the “Markets Group” is an important unit of the Federal Reserve. What is the ‘Markets Group,” and what is their main responsibility?

Expert Solution

The Markets Group at the Federal Reserve Bank of New York implements monetary policy on behalf of the Federal Reserve System, provides payments and custody services to foreign central banks, and acts as a fiscal agent for the U.S. Treasury Department. As part of these duties, the Market Operations Monitoring and Analysis Function (MOMA) within the Markets Group executes transactions in the open market and conducts detailed analysis of financial market developments in support of the monetary policy and financial stability decision-making process.

The International Markets (IM) unit is responsible for providing analysis of foreign financial market and policy developments that contributes directly to the work of the Markets Group and the Federal Reserve System more broadly. IM also has many operational responsibilities, including executing U.S. foreign exchange policy operations and foreign exchange customer transactions, managing the U.S. foreign exchange reserves, and managing liquidity swap lines with foreign central banks.

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