James J McAndrews

Portraits by Francesco Sapienza

James McAndrews is an economist specializing in money and banking. He is the CEO and Chairman of the Board of TNB USA Inc., a Connecticut chartered bank whose objective is to provide high-yielding safe deposits to institutional investors; it is organized as a narrow bank.   Previously he was executive vice president and head of the Research and Statistics Group at the Federal Reserve Bank of New York from 2010-2016. In that role he led a group of 285 professionals in economic and financial analysis, in the collection of data for regulatory, supervisory, and monetary purposes, and in developing new approaches to data management. Mr. McAndrews, who goes by Jamie, served on the Bank’s Management Committee and participated in leadership development programs.

Mr. McAndrews was a member of the steering committee for the Federal Reserve System's Comprehensive Liquidity Analysis and Review (CLAR) from its founding in 2011 to 2016, and served as Associate Economist to the FOMC in 2012. He represented the Bank on a number of international committees devoted to retail and large value payments, funding liquidity, and monetary policy implementation. Mr. McAndrews played a prominent role in the New York Fed’s financial stability efforts, including contributing to the design of several liquidity facilities during the financial crisis.

Mr. McAndrews retired from the Bank after 19 years of service in New York and 28 years of combined service to the System. His research focuses on monetary policy implementation, the liquidity of banks and markets, and monetary arrangements in U.S. history. Recent topics include the economics of dealer banks, the management of central bank liabilities, and fire sales in securities’ markets. Mr. McAndrews holds both a bachelor’s and a doctorate degree in economics from the University of Iowa.