On a yearly basis, the Federal Reserve Bank of Minneapolis offers a Junior Scholar position as part of the Junior Scholar Program. The program offers a one-year term for early-career scholars who have obtained a Ph.D. in the field of economics. The program is aimed at individuals who are tenure-track assistant professors or recent Ph.D. graduates.

In the program, Junior Scholars are expected to conduct their own research and participate in the intellectual life of the Research Division. The scholars will collaborate with top economists in the field, attend conferences and seminars, and receive feedback on their research. Junior Scholars will reside in Minneapolis.