2007 U.S. Monetary Policy Forum
Alan S. Blinder
Alan S. Blinder is the Gordon S. Rentschler Memorial Professor of Economics at Princeton University and Co-Director of Princeton's Center for Economic Policy Studies, which he founded in 1990. He is also Vice Chairman of the Promontory Inter-financial Network and Vice Chairman of the G7 Group.
Blinder is the author or co-author of 17 books, including the textbook Economics: Principles and Policy (with William J. Baumol), now in its 10th edition, from which over two million college students have learned introductory economics. He has also written scores of scholarly articles on such topics as fiscal policy, monetary policy, and the distribution of income. From 1985 until joining the Clinton Administration, Blinder wrote a lively monthly column in BusinessWeek magazine. Currently, he is a regular commentator on PBS's Nightly Business Report and appears frequently on CNBC, CNN, Bloomberg TV, and elsewhere.
He earned his AB at Princeton University in 1967, MSc at London School of Economics in 1968, and PhD at Massachusetts Institute of Technology in 1971, all in economics.
Stephen G. Cecchetti
Stephen G. Cecchetti is the Barbara and Richard M. Rosenberg Professor of Global Finance at the International Business School, Brandeis University, and Director of Research at the Rosenberg Institute for Global Finance. He is also a Research Associate of the National Bureau of Economics Research. Prior to joining the faculty at Brandeis, Cecchetti held a number of positions, including Executive Vice President and Director of Research at the Federal Reserve Bank of New York from 1997 to 1999, and editor of the Journal of Money, Credit and Banking from 1992 to 2001. He published the textbook Money, Banking and Financial Markets, as well as over 50 articles in academic and policy journals on a variety of topics, including banking, securities markets, and monetary policy, and is also a regular contributor to the Financial Times.
Cecchetti received his SB in economics from Massachusetts Institute of Technology in 1977 and his PhD in economics from the University of California at Berkeley in 1982.
David Greenlaw is a Managing Director and Chief U.S. Fixed Income Economist with the investment banking firm of Morgan Stanley. His primary duties involve analysis of the U.S. economy and credit markets, including Federal Reserve and Treasury activity. He is also responsible for the projections of key economic indicators. Greenlaw was recently named Best Fed Forecaster in a Bloomberg Markets magazine survey. He was also the first back-to-back winner of the Dow Jones MarketWatch Forecaster of the Month award.
Before joining Morgan Stanley in 1986. Greenlaw served on the staff of the Federal Reserve Board in Washington DC for four years. Greenlaw holds an MBA from New York University and a BA from the University of New Hampshire. He has also done extensive graduate work at the University of Chicago and The George Washington University.
Ethan Harris is managing director and chief economist at Lehman Brothers in New York. He is responsible for the firm's forecast and analysis of the U.S. economy. In this capacity Harris has written extensively about the linkages between geopolitical events and the economy, the unique nature of the current business cycle, and the outlook for monetary and fiscal policy. Harris' work has received extensive coverage in both print and broadcast media. In 2006 his team earned the number one ranking among economists for the fixed income Institutional Investor poll.
Harris joined Lehman Brothers in 1996. He previously worked for nine years at the Federal Reserve Bank of New York, where he served as the research officer in charge of the Domestic Division and as the assistant to the President of the Bank. He also worked for several years as an international economist at JP Morgan.
Harris received his PhD in economics from Columbia University, where he was a University Fellow. He earned a BA in economics from Clark University.
Jan Hatzius, Managing Director and Chief U.S. Economist for Goldman Sachs, is based in the New York office, where he is responsible for setting the firm's U.S. economic and interest rate outlook. Hatzius has published widely on monetary and fiscal policy, the Goldman Sachs Financial Conditions Index, the housing market, inflation, corporate profits, consumption, and capital spending. He is frequently quoted in the financial press, such as the Economist, the Financial Times, and the Wall Street Journal, and writes a regular column on the U.S. economy for the German daily Frankfurter Allgemeine Zeitung.
Prior to joining Goldman Sachs in 1997, Hatzius was a research office at the London School of Economics. He holds an economics doctorate from Oxford University, as well as degrees from the University of Wisconsin-Madison and the Kiel Institute of World Economics.
Peter Hooper is Managing Director and Chief Economist for Deutsche Bank Securities, Inc. He joined Deutsche Bank Securities in 1999 as Chief International Economist. He shortly thereafter assumed responsibilites as Chief U.S. Economists; he became Chief Economist in 2006 and Co-Head of Global Economics in 2007. Hooper frequently comments on U.S. and global economic and financial developments in the media.
Prior to joining Deutsche Bank, Hooper enjoyed a distinguished 26-year career at the Federal Reserve Board in Washington DC. While rising to the upper levels of the Fed staff, he held numerous positions, including as Associate Economist to the FOMC and as Deputy Director of the Division of International Finance.
Hooper earned a BA in economics from Princeton University and an MBA and PhD in economics from the University of Michigan. He has published numerous books, journal articles, and reviews on economics and policy analysis.
Anil Kashyap is the Edward Eagle Brown Professor of Economics and Finance at the University of Chicago Graduate School of Business.
Kasyap joined the facutly in 1991 and currently teaches the courses Corporation Finance and Understanding Central Banks. He serves as one of the faculty Co-Directors of the Chicago GSB Initiative on Global Markets and is a Co-Founder of the U.S. Monetary Policy Forum. Kashyap is also a member of the Bellagio Group, a consultant for the Research Department of the Federal Reserve Bank of Chicago, and a Research Associate at the National Bureau of Economic Research. Under the auspices of the National Bureau, he serves as the co-director of a working group that studies the Japanese economy. Previously he served as a staff economist for the Board of Governors of the Federal Reserve System.
He earned his PhD in economics in 1989 from the Massachusetts Institute of Technology and his bachelor's degree in 1982 in economics and statistics from the University of California at Davis.
Bruce C. Kasman
Bruce Kasman is Managing Director and Chief Economist of JPMorgan and is the editor of Global Data Watch. From 1996 to 1999, Kasman was JP Morgan's Head of Economic Research, Europe.
Prior to his arrival at JP Morgan in 1994, Kasman was Senior International Economist at Morgan Stanley & Co. He started his career at the Federal Reserve Bank of New York where he was a Research Officer in the International Research Department.
Kasman received his PhD in economics from Columbia University in 1985.
Donald L. Kohn
Donald Kohn took office on August 5, 2002, as a member of the Board of Governors of the Federal Reserve System for a full term ending January 31, 2016. On June 23, 2006, Kohn was sworn in as Vice Chairman of the Board of Governors of the Federal Reserve System for a four-year term.
Kohn began his career as a Financial Economist at the Federal Reserve Bank of Kansas City (1970-75). Since then, he has served several positions in the Federal Reserve System including Adviser to the Board for Monetary Policy (2001-02) and Secretary of the Federal Open Market Committee (1987-2002).
Kohn has written extensively on issues related to monetary policy and its implementation by the Federal Reserve, which have been published by various organizations, including the Reserve Bank of Australia, the Bank of Japan, the Bank of Korea, and the Brookigns Institution. He has received several awards, the most recent was the Distinguished Achievement Award from The Money Marketeers of New York University (2002). Kohn is the Chairman of the Committee on the Global Financial System (CGFS), a central bank panel that monitors and examines broad issues related to financial markets and systems. He received a B.A. in economics in 1964 from the College of Wooster and a PhD in economics in 1971 from the University of Michigan.
Randall S. Kroszner
Randall Kroszner took office on March 1, 2006, to fill an unexpired term ending January 31, 2008.
Before becoming a member of the board, Kroszner, who is Professor of Economics at the University of Chicago Graduate School of Business, was the Director of the George J. Stigler Center for the Study of the Economy amd the State and editor of the Journal of Law & Economics. He previously was a visiting scholar at the American Enterprise Institute, a research associate at the National Bureau of Economic Research, and a director at the National Association for Business Economics.
Kroszner previously served the Federal Reserve System as a visiting scholar at the Board of Governors and a research consultant and a member of the Academic Advisory Panel at the Federal Reserve Bank of Chicago. He was also a member of the President's Council of Economic Advisors (CEA) from 2001 to 2003.
Kroszner's research interests include conflicts of interest in financial services firms, international financial crises, debt restructuring and bankruptcy, and monetary economics.
He received an ScB in applied mathematics-economics (honors) from Brown University in 1984 and an MA in 1987 and PhD in 1990, both in economics, from Harvard University.
Jeffrey M. Lacker
Jeffrey Lacker took office August 1, 2004, as the seventh chief executive of the Fifth District Federal Reserve Bank at Richmond. He is serving the remainder of a term that began on March 1, 2001.
Lacker was an assistant professor of economics at the Krannert School of Management at Purdue University from 1984 to 1989. He joined the Bank in 1989 as an economist in the banking area of the Research Department. He was named research officer in 1994, vice president in 1996, and senior vice president and director of the Research Department in May 1999.
Lacker is the author of numerous articles in professional journals on monetary, financial, and payment economics, and has presented his work at several universities and central banks.
He is a member of the Maggie L. Walker Governor's School Advisory Council, and he serves as director for the board of the Richmond Jewish Foundation. He is also a member of the Junior Achievement of Central Virginia Advisory Board and its director of the World Affairs Council of Greater Richmond.
Lacker received his bachelor's degree from Franklin and Marshall College in 1977 and his PhD from the University of Wisconsin in 1984, both in economics.
Kim Schoenholtz is Managing Director and Senior Advisor in Citigroup Corporate and Investment Bank's Economic and Market Analysis (EMA) department. Schoenholtz served as the firm's Global Chief Economist from 1997 until 2005. After taking a year's leave, he returned in 2006 as a Senior Advisor in EMA on a part-time basis.
Schoenholtz joined Salomon Brothers in 1986. He worked in Bond Market Research in New York before moving to Tokyo in 1988. As Director of EMA in Tokyo, he was responsible for the firm's view on the Japanese economy and markets. In 1992, he moved to London to serve as the head of EMA in Europe. He became the firm's Chief Economist in 1997 and returned to New York in this role in 1999.
Schoenholtz was a Visiting Scholar at the Bank of Japan's Institute for Monetary and Economic Studies from 1983 to 1985. He received an MPhil in economics from Yale University in 1982 and an AB from Brown University in 1977. He also studied for one year in Marburg, Germany.
Hyun Song Shin
Hyun Song Shin is Professor of Economics at Princeton University, affiliated with the Department of Economics and the Bendheim Center for Finance. Prior to coming to Princeton, he was Professor of Finance at the London School of Economics. Hyun's research interests are in financial economics and economic theory with particular reference to financial crises, disclosures, risk and financial stability issues, topics on which he has published widely both in academic and practitioner outlets. He has served as editor or editorial board member of several scholarly journals, and has served in an advisory capacity to central banks and policy organizations on financial stability issues. He is a fellow of the Econometric Society and of the British Academy.
Gary H. Stern
Gary Stern became president and chief executive officer of the Federal Reserve Bank of Minneapolis in March 1985. Stern, a native of Wisconsin, joined the Federal Reserve Bank of Minneapolis in January 1982 as senior vice president and director of research. Before joining the Minneapolis Fed, Stern was a partner in a New York-based economic consulting firm. Stern's prior experience includes seven years at the Federal Reserve Bank of New York.
Stern serves on the board of trustees of Hamline University and the Minneapolis College of Art and Design, and the board of directors of the National Council on Economic Education, the Minneapolis Club, and the Carlson School of Management at the University of Minnesota. Stern is co-author of Too Big to Fail: The Hazards of Bank Bailouts, published by The Brookings Institution (2004). Stern holds an AB in economics from Washington University and a PhD in economics from Rice University.
Lars E.O. Svensson
Lars E. O. Svensson has been Professor of Economics at Princeton University since the fall of 2001. He has published extensively in scholarly journals on monetary economics and monetary policy, exchange-rate theory and policy, and general international macroeconomics.
He is a member of the Royal Swedish Academy of Sciences and the Academia Europae, a foreign member of the Finnish Academy of Sciences and Letters, a foreign honorary member of the American Academy of Arts and Sciences, a fellow of the Econometric Society, a fellow of the European Economic Association, a research associate of the National Bureau of Economic Research, and a research fellow of the Centre for Economic Policy Research, London. He was chair of the Prize Committee for the Alfred Nobel Memorial Prize in Economic Sciences during 1999-2001, member during 1993-2002, and secretary during 1988-1992.
Svensson is active as advisor to Sverigies Riksbank, a member of the Monetary Policy Advisory Board of the Federal Reserve Bank of New York, and a member of the Economic Advisory Panel of the Federal Reserve Bank of New York. He regularly consults for international, U.S., and Swedish agencies and organizations. In 2000-2001 he undertook a review of monetary policy in New Zealand, commissioned by the New Zealand government. In 2002 he chaired a committee reviewing monetary policy in Norway.
Mark W. Watson
Mark Watson is the Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs at Princeton University and a research associate at the National Bureau of Economic Research. He is a fellow of the American Academy of Arts and Sciences and of the Econometric Society.
His research focuses on time-series econometrics, empirical macroeconomics, and macroeconomic forecasting. He has published articles in these areas and is the author (with James Stock) of Introduction to Econometrics, a leading undergraduate textbook.
Watson has served on the editorial board of several journals including in the American Economic Review, Applied Econometrics, Econometrica, the Journal of Business and Economic Statistics, the Journal of Monetary Economics, and Macroeconomic Dynamics. He has served as a consultant for the Federal Reserve Banks of Chicago and Richmond.
Before coming to Princeton, Watson served on the economics faculty at Harvard and Northwestern. Watson did his undergraduate work at Pierce Junior College and California State University at Northridge, and completed his PhD at the University of California at San Diego.
Kenneth D. West
Kenneth West is the Ragnar Frisch Professor of Economics Department at the University of Wisconsin-Madison. West taught at Princeton University from 1983 to 1988 before coming to the University of Wisconsin in 1988. He has held visiting scholar positions at several central banks and at several branches of the U.S. Federal Reserve System. He is currently co-editor of the Journal of Money, Credit and Banking and previously served as co-editor of the American Economic Review. West has published widely in the fields of macroeconomics, finance, international economics and econometrics. Honors include the John M. Stauffer National Fellowship in Public Policy at the Hoover Institution, Alfred P. Sloan Research Fellowship, Fellow of the Econo-metric Society, and Abe Fellowship.
He received a BA in Economics and Mathematics from Wesleyan University in 1973 and a PhD in Economics from the Massachusetts Institute of Technology in 1983.