To give a really short answer to your question, the Federalist Party no longer exists. However, if we examine what the Federalist Party represented, we may come to an interesting conclusion. The Federalists believed in having a strong national government that would have broad powers. They believed in a loose interpretation of the Constitution. This would give the federal government the power to do things that were not specifically mentioned in the Constitution. The Federalists believed in having a national bank. Business people in the Northeast and wealthy plantation owners in the South supported this party. In foreign policy, they supported Great Britain more than France. Looking at today’s political parties, it is fair to say the Democratic Party tends to follow a looser view of the Constitution than the Republican Party. The Democratic Party believes the federal government should have a significant role in our lives much more than the Republican Party does. However, both parties support our national banking system. Both parties believe we should have a strong relationship with Britain and other countries. Additionally, business people tend to support Republican ideas more than Democratic ideas. Thus, while it is clear there is no Federalist Party today, some of their ideas can be found more often in the policies of the Democratic Party. However, there is no Federalist Party in existence today.