U.S. Department of the Treasury

Joshua Frost is the Assistant Secretary for Financial Markets at the U.S. Department of the Treasury. Josh has a long history with financial markets, including more than two decades of experience at the Federal Reserve Bank of New York.

Before serving as Assistant Secretary, Josh was most recently the co-chair of the Liquidity Program for systemically important financial institution supervision at the New York Fed. Prior to this, he spent almost two decades in the New York Fed’s Markets Group in a variety of positions, including a role overseeing the two corporate credit facilities launched in response to the pandemic. Josh also served as the Director of Money Markets and Director of Treasury Markets, where his teams launched the Secured Overnight Financing Rate, conducted open market operations, and facilitated auctions of debt on behalf of the Treasury. Josh began his career at the New York Fed in 1998 as an analyst on the Central Bank and International Account Services team.

Josh received his bachelor’s degree in mathematics and psychology from Rutgers University and his master’s degree in business administration with a concentration in finance from New York University. He lives in Washington, D.C. with his wife and daughter.