This course focuses on the role of central banks, in particular the Federal Reserve in the United States, and how its monetary policy operations affect the financial markets. Through conducting data analysis, students will learn the interaction between monetary policy and private-sector banking system, the fixed income security and stock markets. The course also covers the policy impact on the pricing and liquidity in those financial markets. Upon completing the course, students will be able to understand the news about the monetary policy around the world and interpret them using data.