May 17–18, 2021
Richard Clarida began a four-year term as vice chair of the Board of Governors of the Federal Reserve System on September 17, 2018, and took office as a board member to fill an unexpired term ending January 31, 2022. Prior to his appointment to the Board, Clarida served as the C. Lowell Harriss Professor of Economics and International Affairs at Columbia University, where he taught from 1988 to 2018. From 1997 until 2001, Clarida served as chairman of the Department of Economics at Columbia University. In addition to his academic experience, Clarida served as the assistant secretary of the U.S. Department of the Treasury for Economic Policy from February 2002 until May 2003. In that position, he served as chief economic adviser to Treasury secretaries Paul H. O'Neill and John W. Snow and was awarded the Treasury Medal in recognition of his service. Clarida also served on the Council of Economic Advisers under President Reagan. From 2006 to 2018, he served as global strategic adviser with PIMCO and was promoted to managing director in 2015. Clarida is a member of the Council on Foreign Relations and, from 1983 to 2018, was a member of the National Bureau of Economic Research. From 2004 to 2018, he served as coeditor of the NBER International Macroeconomics Annual. Clarida received a BS in economics from the University of Illinois with Bronze Tablet honors and an MA and PhD in economics from Harvard University.
Lawrence H. Summers is president emeritus and Charles W. Eliot University Professor at Harvard University, where he became a full professor at age 28, one of the youngest in Harvard's recent history. He directs the Mossavar-Rahmani Center for Business and Government at Harvard's Kennedy School. During the past two decades, Summers has served in a series of senior policy positions in Washington, DC, including 71st secretary of the Treasury in the Clinton Administration, director of the White House National Economic Council in the Obama Administration, and chief economist of the World Bank. Summers was the first social scientist to receive the National Science Foundation's Alan Waterman Award for scientific achievement and, in 1993, he was awarded the John Bates Clark Medal, given to the most outstanding economist under 40 in the United States. He was elected to the National Academy of Sciences in 2002. He is an adviser to the Hamilton Project, the Hutchins Center on Fiscal & Monetary Policy, and the Peterson Institute for International Economics. Summers is a distinguished senior fellow at the Center for American Progress and recently cochaired the Commission on Inclusive Prosperity. Summers has been recognized as one of the world's most influential thinkers by Time, Foreign Policy, Prospect and The Economist magazines, among many others. He received a BS degree from the Massachusetts Institute of Technology and a PhD from Harvard University.
Other Speaker Biographies
David E. Altig is executive vice president and director of research at the Federal Reserve Bank of Atlanta. In addition to advising the Bank president on monetary policy and related matters, Altig oversees the Bank's regional executives and the Bank's research department and serves as a member of the Bank's management and discount committees. Altig is also an adjunct professor of economics in the Booth School of Business at the University of Chicago, where he was the recipient of the 2010 Einhorn award for excellence in executive MBA teaching. In 2016, he was elected to a three-year term as a director of the National Association for Business Economics. Prior to joining the Atlanta Fed, Altig was vice president and associate director of research at the Federal Reserve Bank of Cleveland. He joined the Cleveland Fed in 1991 as an economist before being promoted in 1997. Before joining the Cleveland Fed, Altig was a faculty member in the department of business economics and public policy at Indiana University. Altig graduated from the University of Iowa with a bachelor's degree in business administration. He earned his master's and doctoral degrees in economics from Brown University.
Raphael W. Bostic is president and chief executive officer of the Federal Reserve Bank of Atlanta. From 2012 to 2017, Bostic was the Judith and John Bedrosian Chair in Governance and the Public Enterprise at the Sol Price School of Public Policy at the University of Southern California (USC). He was director of USC's master of real estate development degree program and was the founding director of the Casden Real Estate Economics Forecast. Bostic also served USC's Lusk Center for Real Estate as the interim associate director from 2007 to 2009 and as the interim director from 2015 to 2016. From 2016 to 2017, he was the chair of the center's Governance, Management, and Policy Process Department. From 2009 to 2012, Bostic was the assistant secretary for policy development and research at the U.S. Department of Housing and Urban Development (HUD). Bostic worked at the Federal Reserve Board of Governors from 1995 to 2001, first as an economist and then a senior. He served as special assistant to HUD's assistant secretary of policy development and research in 1999. He was also a professional lecturer at American University in 1998. He graduated from Harvard University in 1987 with a combined major in economics and psychology. He earned his doctorate in economics from Stanford University in 1995.
Willem Buiter is an independent economic consultant and speaker. He is currently a visiting professor of international and public affairs at Columbia University and an adjunct senior fellow at the Council of Foreign Relations. He was global chief economist at Citigroup from 2010 to 2018 and a special economic adviser at Citigroup from 2018 to 2019. Previously, he was chief economist and special counselor to the president of the European Bank for Reconstruction and Development and an original member of the Monetary Policy Committee of the Bank of England. He was the Juan T. Trippe Professor of International Economics at Yale University and has also held professorships at the London School of Economics and Cambridge University. He is the author of 78 refereed articles in professional journals, and seven books.
Julia Coronado is founder and president of MacroPolicy Perspectives. Coronado is also a clinical associate professor of finance at the McCombs School of Business at the University of Texas. She has more than a decade of experience as a financial market economist, including serving as chief economist for Graham Capital Management and BNP Paribas, and as a senior economist at Barclays Capital. Coronado worked for the Federal Reserve Board of Governors in Washington, DC for eight years, where she regularly briefed the Board and contributed to the Federal Open Market Committee forecasts. She is a member of the Economic Advisory Panel of the Federal Reserve Bank of New York and the Economic Studies Council at the Brookings Institution. Coronado is also on the board of directors of Robert Half International and Dynex Capital, and she serves on the advisory boards of the Bureau of Economic Analysis, the Pension Research Council at the Wharton School, and the Cleveland Fed's Center for Inflation Research. She has previously served on the New York Fed's Treasury Market Practices Group and the board of the National Association of Business Economists, and she was president of the New York Association of Business Economists. Coronado is a regular commentator in financial media, including CNBC, Bloomberg, Marketplace, and The Wall Street Journal. She received her PhD in economics from the University of Texas.
Joseph Gagnon is a senior fellow at the Peterson Institute for International Economics. Previously, he was visiting associate director, Division of Monetary Affairs, at the Federal Reserve Board. He served at the Federal Reserve Board as associate director, Division of International Finance, and senior economist. He has also served at the Treasury Department and has taught at the Haas School of Business at the University of California, Berkeley. Gagnon is the author of Flexible Exchange Rates for a Stable World Economy and The Global Outlook for Government Debt over the Next 25 Years: Implications for the Economy and Public Policy and the coauthor of Currency Conflict and Trade Policy: A New Strategy for the United States. He has published numerous articles in economics journals including the Journal of International Economics, the Journal of Monetary Economics, the Review of International Economics, and the Journal of International Money and Finance, and he has contributed to several edited volumes. He received a bachelor's degree from Harvard University and a PhD in economics from Stanford University.
Michael Howell is CEO of CrossBorder Capital, a London-based, FCA-registered independent research and investment company that he founded in 1996. Previously, he was head of research for Baring Securities and research director of Salomon Brothers Inc. The liquidity methodology he pioneered monitors cross-border flows and central bank behavior across 80 countries worldwide. Howell published Capital Wars, about the rise of global liquidity and turbulent capital flows. Liquidity flows are a central part of CrossBorder Capital's asset allocation advice, which is currently provided to major global investors including institutional asset managers, government agencies, central banks, and endowment funds. Howell has been in financial markets since 1981 and is a regular conference speaker and media commentator. He graduated from Bristol and London Universities with a doctorate in finance, specializing in fixed income.
Thomas Jordan is chairman of the governing board of the Swiss National Bank (SNB). Following a three-year postdoctoral research position at the Department of Economics at Harvard University, he joined the SNB as an economic adviser in 1997. The University of Bern appointed him lecturer in 1998 and honorary professor in 2003, and he received an honorary doctorate from the University of Basel in 2017. In 2007, the Federal Council appointed Jordan to the position of member of the SNB's governing board. In 2010, he was appointed vice chairman and in 2012 chairman of the governing board. He is governor of the International Monetary Fund for Switzerland and a member of the board of directors of the Bank for International Settlements in Basel. Jordan represents Switzerland in the Plenary and the Steering Committee of the Financial Stability Board (FSB). He is also chair of the FSB's Standing Committee on Budget and Resources, as well as of the G10 Central Bank Counterfeit Deterrence Group. Jordan received a PhD in economics from the University of Bern.
Robert Kaplan has served as the 13th president and CEO of the Federal Reserve Bank of Dallas since September 8, 2015. He represents the Eleventh Federal Reserve District on the Federal Open Market Committee. Kaplan was previously the Martin Marshall Professor of Management Practice and a senior associate dean at Harvard Business School. Prior to joining Harvard in 2006, Kaplan was vice chairman of the Goldman Sachs Group, with global responsibility for the firm's investment banking and investment management divisions. Following his 23-year career at Goldman Sachs, Kaplan became a senior director of the firm. He serves as chairman of Project A.L.S. and cochairman of the Draper Richards Kaplan Foundation, a global venture philanthropy firm. He is a board member of Harvard Medical School and previously served on the boards of State Street Corporation, Harvard Management Company, Bed Bath & Beyond, and Heidrick & Struggles International. He was also a trustee of the Ford Foundation, cofounding board chair of the TEAK Fellowship, cofounder and chairman of Indaba Capital Management, and chairman of the Investment Advisory Committee at Google. Kaplan was appointed by the governor of Kansas as a member of the Kansas Health Policy Authority Board. He received a bachelor's degree in business administration from the University of Kansas and an MBA from Harvard Business School.
Arvind Krishnamurthy is the John S. Osterweis Professor of Finance at the Stanford Graduate School of Business and a research associate at the National Bureau of Economic Research. Krishnamurthy studies finance, macroeconomics, and monetary policy. He has studied the causes and consequences of liquidity crises in emerging markets and developed economies and the role of government policy in stabilizing crises. Recently, he has been examining the importance of U.S. Treasury bonds and the dollar in the international monetary system. He has published numerous journal articles and received awards for his research, including the Smith Breeden Prize for best paper published in the Journal of Finance. Krishnamurthy's research on financial crises and monetary policy has received national media coverage and been cited by central banks around the world. He was formerly an associate editor at the Journal of Finance and the American Economics Journals-Macroeconomics and is associate editor at the American Economic Review. He did his undergraduate studies at the University of Pennsylvania and his doctoral work at the Massachusetts Institute of Technology.
Simon Potter is vice chair at FIC Millennium. Prior to his role with Millennium, he was a nonresident senior fellow at the Peterson Institute for International Economics, where his research focused on central bank operations, monetary policy, digital currencies, reference rates, the role of the dollar, and economic forecasting. Prior to joining the Peterson Institute, he was head of the markets group and system open market account manager at the Federal Reserve Bank of New York. Potter started his career at the New York Fed in June 1998 and served as director of economic research and cohead of the research and statistics group at the New York Fed prior to becoming head of the markets group in June 2012, where he was responsible for monetary policy advice. He played a prominent role in the Federal Reserve's financial stability efforts, including by contributing to the design of the 2009 U.S. bank stress tests, as a member of the international macroeconomic assessment group that supported the Basel Committee's work to strengthen bank capital standards and, most recently, as chair of the Global Foreign Exchange Committee. In addition, he worked for the Financial Stability Oversight Council in 2011 to produce its first annual report. Prior to working at the New York Fed, Potter was an assistant professor at the University of California, Los Angeles. He has also taught at Johns Hopkins University, New York University, and Princeton University.
Paula Tkac is a senior vice president and associate director of research at the Federal Reserve Bank of Atlanta. She leads the financial markets and micro/macro research economics teams, serves as a policy adviser, and provides strategic direction for the research division. Tkac conducts research on various financial market topics including investor decision making, the mutual fund industry, financial regulation, and the recent financial crisis and policy responses. Her research has won two William F. Sharpe Awards at the Journal of Financial and Quantitative Analysis. In addition to publishing in academic journals, Tkac frequently speaks to academic and practitioner groups and has appeared on C-SPAN and as an op-ed writer in the Wall Street Journal. Before she joined the Federal Reserve Bank of Atlanta in 2000, Tkac was on the faculty of the finance department at the University of Notre Dame. Tkac earned her bachelor's, master's, and doctoral degrees in economics from the University of Chicago.