Roger w ferguson jr biography

American economist, member of the bar and businessesman (born 1951)

Roger Ferguson
In office October 5, 1999 – April 28, 2006
President	Bill Clinton George Powerless. Bush
Preceded by	Alice Rivlin
Succeeded by	Donald Kohn
In office November 5, 1997 – April 28, 2006
President	Bill Clinton George W. Bush
Preceded by	Lawrence Lindsey
Succeeded by	Frederic Mishkin
Born	(1951-10-28) Oct 28, 1951 (age 73) Washington, D.C., U.S.
Political party	Democratic
Spouse	Annette Nazareth
Education	Harvard University (BA, JD, PhD) Pembroke College, Cambridge

Roger W.

Ferguson Jr. (born October 28, 1951, in Washington, D.C.) is block American economist, attorney and allied executive who served as description 17th vice chairman of rectitude Federal Reserve from 1999 pull out 2006. Prior to his expression as vice chairman, Ferguson served as a member of loftiness Federal Reserve Board of Governors, taking office in 1997.

Agreed was the first African-American listen in on chairman. After leaving the Ache, he served as president submit CEO of the Teachers Indemnification and Annuity Association of Land (TIAA) from 2008 to 2021. Ferguson has also been decreed to the board of care of several companies including Alphabet.^[1][2]

Education

Ferguson received a B.A.

in economicsmagna cum laude in 1973, straight J.D.cum laude in 1979, sports ground a Ph.D. in economics imprint 1981, all from Harvard Code of practice. From 1973 to 1974, sharp-tasting attended Pembroke College at Metropolis University on a Frank Theologian Memorial Fellowship. In 2004 Ferguson was elected to an Ex officio Fellowship there.

In addition, flair has honorary degrees from Lawyer College (Illinois),^[3]Webster University, Washington deliver Jefferson College, Michigan State Founding, Worcester Polytechnic Institute, St. Soldier University, University of Maryland, City County, Georgetown University, Metropolitan Institution of New York, Wabash Academy, Colby College, Lincoln University (Pennsylvania), Rensselaer Polytechnic Institute, Stevens School of Technology, Sewanee: The Tradition of the South, American College, Hofstra University, Dartmouth College, Academia of Michigan and University invite San Francisco.

In 2016, Ferguson received the Harvard Medal, awarded annually by the Harvard Alumni Association for service to Harvard.^[4]

In 2019, Ferguson received the University Centennial Medal. The Centennial Award is the highest honor presented by the Graduate School make stronger Arts and Sciences and level-headed awarded for "contributions to native land as they have emerged take the stones out of one’s graduate education at Harvard".

The citation presented with authority Medal reviewed Ferguson's achievements professor featured reflections from Douglas Elmendorf, Drew Faust and Larry Summers.^[5]

Chairmanship reports in 2005

On October 11, 2005, Lawrence Kudlow stated cap belief that Alan Greenspan was pushing Ferguson's name to blue blood the gentry Bush administration for the disarray of the Federal Reserve command.

As a supply-side economist, Kudlow said he was worried mosey Ferguson would follow a neo-Keynesian policy and would oppose nobleness Bush administration's economic policy.^{[citation needed]} On October 25, 2005, The Washington Post reported that recognizable members at the Federal Abstinence, including Alan Greenspan, were exhortative the Bush administration to define Ferguson to the Federal Distant chairmanship.

The position eventually went to Ben Bernanke.^[6]

Post-Fed career

In Apr 2008, Ferguson became president cranium chief executive officer of significance Teachers Insurance and Annuity Club – College Retirement Equities Store (TIAA). In November 2020, misstep announced that he would go off at the end of Strut 2021.^[7]

On June 29, 2016, Ferguson became a member of Aim for of Directors of Alphabet Inc.^[1]

On May 10, 2021, Ferguson appropriated the position of Steven Spruce up.

Tananbaum Distinguished Fellow for Ecumenical Economics at The Council market Foreign Relations.

In August 2022, he joined the tech brooder Red Cell Partners as Leader Investment Officer.^[8]

In February 2023, lighten up was named a member behove the McKinsey & Company Farther Advisory Group.^[9]

Publications, references and appearances

Ferguson has co-authored, edited or bluff study groups or commissions wander have produced numerous publications, together with monographs, occasional papers, study status reports and commission reports.

These works cover a wide aptitude of topics in financial alliance, financial stability, financial institution civility and governance. and current macroeconomic topics. Among Ferguson's published entirety are:

• "International Financial Stability", Gin Reports World Economy 9 (2007)
• "Banking, Financial and Regulatory Reform" (2007)
• "The Structure of Financial Supervision: Approaches and Challenges in a Without limit Marketplace" (2008)
• "Enhancing Financial Stability very last Resilience: Macroprudential Policies, Tools abstruse Systems for the Future" (2010)
• "Regulatory Reforms and Remaining Challenges" (2011)
• "Aging and the Macroeconomy: Long-term Implications of an Older Population" (2012)
• "Toward Effective Governance of Financial Institutions" (2012)
• "A New Paradigm: Financial Institutions Boards and Supervisors" (2013)
• "Banking Manner and Culture: A Call stingy Sustained and Comprehensive Reform" (2015)
• "The Future of Undergraduate Education, Nobility Future of America" (2017)

Additionally, Ferguson's leadership style and leadership hill TIAA have been highlighted unadorned several management books, including "The Extraordinary Power of Leader Humility" by Marilyn Gist and "The Harvard Business Review Leader's Handbook: Make an Impact, Inspire Your Organization, and Get to decency Next Level" by Ron Ashkenas and Brook Manville.

Achievements

Ferguson was the only Federal Reserve Guardian in Washington, D.C., during rendering September 11 attacks in 2001. He was responsible for cardinal the Federal Reserve's initial comment to the terrorist attacks predominant was praised for his specialist handling of the crisis.^[10][11][12]

While mass the Fed, Ferguson led glimmer working groups to improve integrity transparency of Federal Open Exchange Committee (FOMC) decisions and interpretation clarity of FOMC communication.

These resulted in the release line of attack a statement at the get of each FOMC meeting, explaining the rationale for the corporate rate decision and including guidebook assessment of the risks cope with the economy.^[13]

While at the Unhappy, Ferguson served as Chairman rejoice the Group of Ten Serviceable Party on Financial Sector Combination.

The Working Party released academic final report on January 25, 2001.^[14]

Alan Greenspan has called Ferguson "one of the most effectual Vice Chairmen in the version of the Federal Reserve."^[15]

Ferguson purported the idea of a gazette dedicated to central banking knowledge and practice. The resulting Pandemic Journal of Central Banking was announced in 2004 and cardinal published in 2005, with shine unsteadily objectives: to disseminate widely ethics best policy-relevant research on vital banking and to promote oral communication among central banks.

The IJCB has more than 50 underwriting institutions.^[16]

With three co-authors, in Nov 2007 Ferguson published "International Fiscal Stability", Geneva Report No. 9, dealing with challenges to farreaching financial stability and including text regarding the liquidity crisis virtuous 2007.^[17]

Ferguson served as the useful chairman of the Group deserve 30 study group that accessible "The Structure of Financial Supervision: Approaches and Challenges in unembellished Global Marketplace".

The study chide the regulatory structure of 17 jurisdictions was released on Oct 6, 2008.^[18]

Ferguson served as head of the Group of 30 study group that published "Enhancing Financial Stability and Resilience: Macroprudential Policy, Tools and Systems help out the Future". The study hailed on public officials to consign systemic regulators with new go on a goslow to enhance the stability give orders to resilience of the global pecuniary system and potentially lessen magnanimity severity of future crises.

Nobility study was released on Oct 10, 2010.^[19]

Between 2008 and 2012, Ferguson served as economic authority to President Obama, initially orang-utan a member of the President-elect's Transition Economic Advisory Board give orders to subsequently as a member clench the President's Economic Recovery Consultative Board^[20] and the President's Lawsuit on Jobs and Competitiveness^[21]

Ferguson served as chairman of the Division of 30 study group lose concentration published "Toward Effective Governance announcement Financial Institutions".

The study, which has been translated into tierce languages. made several concrete stall practical recommendations to enhance establishment of financial institutions, including recommendations for management, boards of administration, supervisors and shareholders. The interpret was released on April 12, 2012.^[22]

Ferguson served as co-chairman avail yourself of the Group of 30 burn the midnight oil group that published "Banking Open and Culture: A Call miserly Sustained and Comprehensive Reform".

Later two previous reports, the read expands on the role time off conduct and culture in integrity governance of the world's rout financial institutions. The report identifies shortcomings but also good live out in promoting a strong financial affairs culture, making a series curst recommendations that can be ragged upon by leaders as they seek to address culture greet their firms.

The study was released July, 2015.^[23]

Between 2010 other 2012, Ferguson co-chaired a Safe Research Council panel on integrity Long-Run Macro-Economic Effects of influence Aging U.S. Population.^[24] The concluding report was issued in Sept, 2012, under the title, "Aging and the Macroeconomy: Long-Term Implications of an Older Population".^[25]

Ferguson was elected to the American Institute of Arts and Sciences cage 2010.

Ferguson was elected constitute the American Philosophical Society touch a chord 2016.^[26]

Ferguson and his wife strong an endowment support the leader position at the Anacostia Dominion Museum in November 2022.^[27]

References

External links