Patricia Zobel is Manager pro tem of the System Open Market Account (SOMA) and Head of Market Operations, Monitoring, and Analysis in the Markets Group of the Federal Reserve Bank of New York. In her role as SOMA Manager pro tem, Ms. Zobel’s responsibilities include the execution of monetary policy at the direction of the Federal Open Market Committee, provision of fiscal agent services to the U.S. Treasury Department in support of debt issuance and foreign exchange operations, analysis of global financial market developments, and production of the New York Fed’s reference rates, including the Secured Overnight Financing Rate. Ms. Zobel initially joined the Markets Group in 1997 and has held successive leadership roles at the New York Fed. Most recently, Ms. Zobel served as Deputy Manager of the SOMA. Prior to that, Ms. Zobel held senior advisory positions in the Markets Group, including being a senior policy advisor focused on monetary policy implementation and domestic money markets. In this capacity, she co-led the System’s review of monetary policy implementation frameworks, and helped initiate production of reference rates under International Organization of Securities Commissions principles. Prior to that, she was director of the New York Fed’s Discount Window, leading the 2nd District’s Discount Window and the collateral valuation for the Federal Reserve System. From 2007 to 2011, Ms. Zobel worked at The Andrew W. Mellon Foundation in the investment office on fixed income, credit, and private equity portfolios. Ms. Zobel holds a bachelor’s degree from the University of California, Berkeley, Haas School of Business, as well as a master’s degree in business administration from Columbia University.
