Michael J. Fleming is a Vice President in the Capital Markets Function of the Research and Statistics Group at the Federal Reserve Bank of New York.

His primary research interests are market microstructure, financial intermediation, and monetary policy. Recent work examines Federal Reserve liquidity provision during the financial crisis, high-frequency liquidity dynamics in the Treasury market, and trading activity and price transparency in derivatives markets. Michael joined the New York Fed as an economist in 1994. He received a Ph.D. in Business Economics from Harvard University in 1994 and a B.A. in Economics from Colby College in 1988.