Monetary and Financial Policy Research Intern

To be considered for this role, you must apply directly through our online application. 

Overview

The Center for Monetary and Financial Alternatives researches the Federal Reserve, banking and financial regulation, housing finance, and financial innovation from a perspective focused on market competition, sound money, and limited government. 

CMFA scholars produce policy analyses, congressional testimony, op-eds, and data-driven research on some of the most debated issues in financial policy. Recent work includes a multi-part series on reforming the Federal Reserve, research on CBDC risks and financial privacy, housing finance reform, banking regulation, and crypto and digital asset policy. 

Interns support the whole team by helping multiple scholars with research and data tasks that directly contribute to published analyses, Hill engagement, and public commentary.

Responsibilities

• Compile literature reviews and draft research memos on topics including monetary policy, banking regulation, housing finance, and financial innovation as assigned — outputs are directly used by scholars.
• Pull, clean, and analyze data from FRED, Federal Reserve statistical releases, FDIC databases, and other financial and regulatory sources; produce clearly labeled, reproducible charts and tables for use in published work.
• Monitor federal legislative and regulatory developments in financial regulation, crypto and digital assets policy, and monetary policy, and summarize findings accurately and concisely.
• Fact-check and edit policy analyses, op-eds, and briefs.
• Assist in preparing materials for congressional briefings and policy events.

Required Qualifications

• Demonstrated knowledge of and interest in US monetary policy and financial regulation — including the Federal Reserve, banking and securities regulation, housing finance, and financial innovation — grounded in and aligned with Cato's principles of individual liberty, limited government, free markets, and peace.
• Strong background in economics or finance, with the ability to clearly explain monetary policy tools, regulatory mechanisms, and financial market dynamics to policy audiences.
• Experience in writing about economic or financial policy with clear claims and accurate citations from primary sources such as Federal Reserve publications, FDIC data, CBO analyses, and academic literature.
• Working familiarity with FRED and other financial and regulatory datasets, including precise handling of units, definitions, and data vintage.
• Proficiency in Microsoft Excel, including filters, sorting, XLOOKUP or INDEX-MATCH, and PivotTables.
• Professionalism, reliability, and attention to detail — data projects require careful troubleshooting, and accuracy in both analysis and written output is essential.

Preferred Qualifications

• Previous research or professional experience in monetary economics, financial regulation, banking, or a directly related field — through a research assistantship, policy organization internship, published or submitted paper, or independent project with verifiable results
• Familiarity with current debates in financial innovation, including CBDC risks and legislation, stablecoin regulation, cryptocurrency policy, and fintech regulatory frameworks; applicants are encouraged to review the team's recently published work before applying.
• Experience with R, Python, Stata, or SQL for data cleaning, analysis, or tool development — especially related to financial or macroeconomic data.
• Advanced coursework or independent research in macroeconomics, monetary theory, financial markets, or banking regulation.

The Cato Internship Program

Cato’s paid internships are available for undergraduates, recent graduates, graduate students, law students, and early-career professionals who are strongly committed to individual liberty, limited government, free markets, and peace—principles that together form libertarianism, also known as “classical liberalism,” “market liberalism,” or, to many of our international friends, simply “liberalism.” 

All Cato interns participate in the same intensive seminar series, which covers a wide range of history, philosophy, policy, and professional development topics. Interns also assist with events and occasionally support Cato staff with other daily tasks. 

Interns receive competitive pay. Part-time roles are adjusted accordingly and require a minimum of 25 hours per week. Program participants must be able to attend in person in Washington, DC.

For more information about the internship program and experience, we encourage you to explore our website. If you have any questions, email studentprograms@cato.org.