Wall Street Prep
Economics and the Role of the Central Bank
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Economics and the Role of the Central Bank

18 Lessons
1h 58m
54,051 Students

The Fed moves markets. Learn about the economic indicators that central bankers use before they act, and the tools they have at their disposal once they decide to act.

Why You Should Take This Course

This course has everything you need to track and work with the actions of the central bank. Learn about the Bloomberg tools that will help you, and demystify the jargon used by traders to explain the market.
  • Understand how data moves markets Learn how to use the Bloomberg tools for economic forecasts and the economic calendar, how to filter out noise versus which reports will move markets, and how to use Bloomberg to see where the market is expecting interest rates to be in the future.
  • Explore the Fed’s toolkit to move markets What actions can the Fed enact and what are their immediate and secondary impacts of the markets? Learn how the Fed keeps short term rates from dropping too low or rising too high. Learn how the Fed can control Long-Term Rates and learn how the Fed can encourage or constrain lending through bank regulation.
  • Decode market jargon There is a ton of jargon used by traders every day to explain market moves. Are will bull steepening or bear flattening? Is this Fed speaker a hawk or a dove? What are the differences among all the short-term rates (IOER, Repo/SOFR, Fed Funds, T-Bills), and why does it matter?

This course is part of the Fixed Income Markets Certification (FIMC©), a complete course that teaches you the skills you need to succeed as a Fixed Income Trader on either the Buy Side or the Sell Side.

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What You'll Learn

  • Treasury Auctions
  • Economic Indicators
  • Fed Funds
  • Repo
  • Yield Curves

Course Samples

Macroeconomics and Central Bank Goals
Economic Indicators
Introduction to Yield Curves

Get the Fixed Income Markets Certification

This course can be taken standalone, or as part of the Fixed Income Markets Certification Program. Graduates of the program earn a Wall Street Prep certification that can be shared with potential future employers.

Course Extras

  • Taught by bankers

    Our instructors are former investment bankers who give lessons real-world context by connecting it to their experience on the desk.

  • Earn a Certification

    Take this course standalone, or, to earn a shareable certification, as part of Wall Street Prep's Fixed Markets Income Certification Program.

  • Used on the Street

    This is the same comprehensive course our corporate clients use to prepare their analysts and associates.

  • Free Unlimited Access to the WSP Support Center

    Receive answers to questions, free downloads, and more from our staff of experienced investment bankers

Course Syllabus

1 Supply and Demand Dynamics 4:48
2 Treasury Auctions 3:59
3 WI Market, Book building 4:53
4 Switch Trades 5:25
5 Macroeconomics, Central Bank Goals 2:52
6 Economic Indicators 7:20
7 Inflation 11:12
8 Fed Funds 6:42
9 Repurchase Agreements (Repo) 8:08
10 Repo and Fed Fund Rates are Linked 6:53
11 Forward Rate Expectations 7:02
12 Introduction to Yield Curves 3:17
13 Yield Curves: Upward Sloping 3:35
14 Yield Curves: Steepners and Flatteners 6:58
15 Yield Curves Exercise 8:58
16 Federal Reserve & Long Term Rates, Quantatitve Easing 6:34
17 Fed Actions and Impact on Commercial Banks 8:16
18 Risk Weighted Assets (RWA) 11:14
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