Narayana Kocherlakota, Ph.D
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Narayana Kocherlakota, Ph.D

Lionel W. McKenzie Professor of Economics, University of Rochester & President and CEO of the Federal Reserve Bank of Minneapolis (2009-2015)

Narayana Kocherlakota was President of the Federal Reserve Bank of Minneapolis from 2009 through 2015. In that role, he served on the Federal Open Market Committee, the monetary policymaking arm of the Fed. He is probably best known for being led by low inflation data to switch from being a monetary policy “hawk” to a monetary policy “dove” – a decision that led Foreign Policy magazine to name him one of its top ten global thinkers for 2012. 

 

 

The US Economy: Past Ten Years and Current Policy Choices

Dr. Kocherlakota can touch upon the following:

  • The financial crisis and the reaction by the Federal Reserve and Congress
  • The Great Recession and the response by the Federal Reserve and Congress
  • How the recovery was surprisingly strong
  • How the recovery was surprisingly weak and is there room for improvement using monetary/fiscal stimulus or not?

Meet Narayana Kocherlakota, Ph.D

Narayana Kocherlakota was President of the Federal Reserve Bank of Minneapolis from 2009 through 2015. In that role, he served on the Federal Open Market Committee, the monetary policymaking arm of the Fed. He is probably best known for being led by low inflation data to switch from being a monetary policy “hawk” to a monetary policy “dove” – a decision that led Foreign Policy magazine to name him one of its top ten global thinkers for 2012. 

Since leaving the Fed, Kocherlakota has become known as a “blunt internet commenter” on all aspects of macroeconomic policy and the Federal Reserve, through his columns on Bloomberg View. He’s been a professor of economics at several distinguished institutions, including Stanford University. He has made a number of significant research contributions, but is probably best-known for his paper “Money is Memory,” which showed, ten years before Bitcoin, that the role of money in the economy can be fully subsumed by a ledger-like accounting system. 

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