Musa Orak

Musa Orak

Principal Economist, Division of International Finance, Board of Governors of the Federal Reserve System

I am a Principal Economist in the Advanced Foreign Economies Section of the Division of International Finance at the Federal Reserve Board, where I have worked since 2016. My research is in macroeconomics and labor economics. Current topics include technological change, the labor share and inequality, labor market frictions and taxation, inflation dynamics in advanced economies, and the real effects of uncertainty and ambiguity.

I received my Ph.D. in Economics from UCLA in 2016. Before graduate school I was a researcher in the Research and Monetary Policy Department of the Central Bank of the Republic of Turkey.

Fields: Macroeconomics, Labor Markets, International Macroeconomics, Monetary Policy.

Portrait of Musa Orak
Musa Orak with Janet Yellen at the Federal Reserve Board
With Janet Yellen at the Federal Reserve Board

Recent work

Technology and Energy Substitution: A Path toward Climate Change Mitigation

with Nida Çakır Melek · European Economic Review, 2026

Ambiguity, Global Financial Risk, and Emerging Market Business Cycles

with Brendan Epstein, Rahul Mukherjee, and Alessandro Peri · Working paper, 2026

Has the Inflation Process Become More Persistent? Evidence from the Major Advanced Economies

with Andrea De Michelis, Grace Lofstrom, Mike McHenry, Albert Queraltó, and Mikaël Scaramucci · FEDS Notes, 2024

All research →

Contact

Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue NW, Mailstop 23
Washington, DC 20551, USA
musa.orak@frb.gov

The Marriner S. Eccles Federal Reserve Board Building in Washington, DC
Marriner S. Eccles Federal Reserve Board Building. Photo: Federal Reserve.