Patrick McCabe

Patrick E. McCabe is an accomplished economist currently serving as the Deputy Associate Director in the Program Direction Section of the Research and Statistics Division at the Federal Reserve Board. He has been with the Federal Reserve since 2000, contributing significantly to various aspects of economic research and policy formulation.

Education and Career Background

• Ph.D. in Economics: University of California, Berkeley (2000)
• Position: Economist at the Federal Reserve Board (2000 - present)

Research Focus

McCabe's research primarily revolves around:

• Mutual Funds
• Money Market Funds
• Repo Markets
• Short-Term Funding Markets
• Monetary Policy

He has authored and co-authored several notable papers, including:

• "The Shift from Active to Passive Investing: Potential Risks to Financial Stability?" published in the Financial Analysts Journal (2020).
• "Overnight RRP Operations as a Monetary Policy Tool: Some Design Considerations" (2015).
• "Money Market Funds: Reconsidering the Mutual Fund Model" (2015).

His work often addresses systemic risks associated with financial markets, particularly focusing on money market funds and their implications for financial stability.124

Professional Contributions

McCabe has been involved in multiple high-profile research projects and publications, enhancing understanding of monetary policy tools and their effectiveness. His expertise is recognized within the Federal Reserve System and broader economic community, where he actively participates in discussions regarding economic policy and financial regulation.13

For further insights into his work and contributions, you can view his LinkedIn profile here .3