Kevin Warsh
| Kevin Warsh | |
|---|---|
| File:Kevin Warsh, Federal Reserve photo portrait.jpg | |
| Board of Governors of the Federal Reserve System | |
| In office February 24, 2006 – March 31, 2011 (Resigned) |
|
| Nominated by | George W. Bush |
| Personal details | |
| Born | Kevin Maxwell Warsh April 13, 1970 Albany, New York U.S. |
| Nationality | American |
| Spouse(s) | Jane Lauder |
| Alma mater | Stanford University Harvard Law School |
Kevin Maxwell Warsh (born April 13, 1970), is an American financier, lawyer, government official and academic.[1][2] During and in the aftermath of the 2008 financial crisis, Warsh was a governor of the Federal Reserve System, and acted as the central bank's primary liaison to Wall Street.[3] He currently serves as a distinguished visiting fellow at Stanford University's Hoover Institution, and as a member of both the Group of Thirty and was a former Steering Committee Member of the Bilderberg Group.[4]
Contents
Early life
Warsh was born in Albany, New York, and grew up near Albany, attending Shaker High School in Latham. He received a B.A. in public policy (with honors) from Stanford University in 1992 with a concentration in economics and political science. He went on to study law at Harvard Law School and received a J.D. (cum laude) in 1995. He also took coursework in market economics and debt capital markets at Harvard Business School and the MIT Sloan School of Management.[5]
Career
From 1995 to 2002, Warsh worked for Morgan Stanley in New York City, ultimately becoming a Vice President and Executive Director in the company's Mergers and Acquisitions Department.[6][7]
From 2002 to 2006, Warsh was Special Assistant to the President for Economic Policy, and Executive Secretary of the National Economic Council. His primary areas of responsibility included domestic finance, banking and securities regulatory policy, and consumer protection He advised the President and senior administration officials on issues related to the U.S. economy, particularly fund flows in the capital markets, securities, banking, and insurance issues. Warsh participated in the President's Working Group on Financial Markets and served as the administration's chief liaison to the independent financial regulatory agencies.[6]
Federal Reserve Board
President Bush nominated Warsh and Randall Kroszner to fill two Fed vacancies on January 27, 2006. Warsh's nomination drew some criticism, based on his age and inexperience. At 35 years old, Warsh was the youngest appointment in the history of the Federal Reserve. At the time, former Fed vice chairman Preston Martin said Warsh's nomination was "not a good idea" and that if he had a voice in the Senate, he would vote no.[8] However, Warsh impressed colleagues, especially Fed Chairman Ben Bernanke, with his insights and political savvy,[9] and he played a significant role in navigating the financial market turmoil of 2007 and 2008.[10]
He took office on February 24, 2006 to fill an unexpired term ending January 31, 2018.[11][12]
Warsh announced his intent to resign from the Board in a letter sent to President Obama on February 10, 2011, effective around or on March 31, 2011.[3][13][14]
Post-FRB career
Warsh is a distinguished visiting fellow at the Stanford University;s Hoover Institution and a lecturer at the Stanford Graduate School of Business.[15]
He is also a member of the board of directors at UPS.[16]
Personal life
In 2002, Warsh married Jane Lauder, a granddaughter and heiress of Estée Lauder. The couple lives in Manhattan.[17] Jane was general manager of Origins, an Estée Lauder company, as of a 2008 report.[18]
In 2009, Warsh was named to Fortune Magazine's "40 under 40".[19]
His sister Kate Warsh is meteorologist Alexandra Steele, who has appeared on The Weather Channel and CNN.[20][21]
References
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Further reading
Writings
- Warsh, Kevin, and Jeb Bush. "Commentary: A New Strategy for Economic Growth." The Wall Street Journal. August 10, 2011.
- Warsh, Kevin. "Commentary: The 'Financial Repression' Trap." The Wall Street Journal. December 6, 2011.
- Warsh, Kevin, and Stanley Druckenmiller. "Commentary: The Asset-Rich, Income-Poor Economy." The Wall Street Journal. June 19, 2014.
Federal Reserve
- Wessel, David. In Fed We Trust: Ben Bernanke's War on the Great Panic. New York: Crown Business, 2009. ISBN 978-0-307-45970-1 OCLC 464303608 "Chapter 6: The Four Musketeers: Bernanke's Brain Trust." pp. 106-115.
External links
- Statements and Speeches of Kevin M. Warsh at FRASER
- Kevin M. Warsh at Stanford University's Hoover Institution
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