John B. Taylor

George P. Shultz Senior Fellow in Economics
Awards and Honors:
American Academy of Arts and Sciences
Econometric Society (elected fellow)
Economics Distinguished Faculty Teaching Award
(2015)
Biography: 

John B. Taylor is the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Mary and Robert Raymond Professor of Economics at Stanford University. He chairs the Hoover Working Group on Economic Policy and is director of Stanford’s Introductory Economics Center.

Taylor's fields of expertise are monetary policy, fiscal policy, and international economics. His book Getting Off Track was one of the first on the financial crisis; his latest book, First Principles, for which he received the 2012 Hayek Prize, develops an economic plan to restore America’s prosperity.

Taylor served as senior economist on President Ford's and President Carter’s Council of Economic Advisers, as a member of President George H. W. Bush's Council of Economic Advisers, and as a senior economic adviser to Bob Dole’s presidential campaign, to George W. Bush’s presidential campaign in 2000, and to John McCain’s presidential campaign. He was a member of the Congressional Budget Office's Panel of Economic Advisers from 1995 to 2001. From 2001 to 2005, Taylor served as undersecretary of the Treasury for international affairs where he was responsible for currency markets, international development, for oversight of the International Monetary Fund and the World Bank, and for coordinating policy with the G-7 and G-20.

Taylor received the Bradley Prize from the Bradley Foundation and the Adam Smith Award as well as the Adolph G. Abramson Award from the National Association for Business Economics. He was awarded the Alexander Hamilton Award for his overall leadership at the US Treasury, the Treasury Distinguished Service Award for designing and implementing the currency reforms in Iraq, and the Medal of the Republic of Uruguay for his work in resolving the 2002 financial crisis. At Stanford he was awarded the George P. Shultz Distinguished Public Service Award, as well as the Hoagland Prize and the Rhodes Prize for excellence in undergraduate teaching. He is a fellow of the American Academy of Arts and Sciences and the Econometric Society; he formerly served as vice president of the American Economic Association.

Taylor received the 2016 Adam Smith Award from the Association of Private Enterprise Education and the 2015 Truman Medal for Economic Policy for extraordinary contribution to the formation and conduct of economic policy.

Taylor formerly held positions as professor of economics at Princeton University and Columbia University. Taylor received a BA in economics summa cum laude from Princeton University in 1968 and a PhD in economics from Stanford University in 1973.

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In the News

What Is Taylor Rule?

featuring John B. Taylorvia Banking School
Tuesday, April 16, 2019

The Taylor rule was first proposed by economist John B. Taylor in 1993 to provide guidance to the U.S. Federal Reserve* and other central banks for setting short-term interest rates based on economic conditions. 

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Currencies, Capital, and Central Bank Balances

via Books by Hoover Fellows
Tuesday, April 2, 2019

Experts address big-picture debates affecting US and global monetary policy and apply cutting-edge economic research to the international monetary and financial system.

Interviews

John B. Taylor Delivers George S. Eccles Memorial Lecture In Economics

interview with John B. Taylorvia The Center for Growth and Opportunity
Friday, March 29, 2019

Hoover Institution fellow John Taylor delivers a speech titled "Outlook for Economic Policy and the Economy."

In the News

Stanford University Professor Delivers Lecture For Huntsman School Students

featuring John B. Taylorvia The Utah Statesman
Wednesday, March 27, 2019

As part of an event co-sponsored by the Jon M. Huntsman School of Business and the Center for Growth and Opportunity, John Taylor, economics professor at Stanford University, spoke Tuesday on the future of economic policy in the United States. Taylor, Stanford economics professor and senior fellow in economics at the Hoover Institution, rejected The Economist’s interpretation of the US economy in their July 19, 2014 story, “America’s lost oomph,” in which the cover depicts an American jockey on top of a turtle. Rather, Taylor said, the economy could be likened to a caged eagle, and policy reform could cut open the cage for us to see better growth.

In the News

Eccles Memorial Lecture In Economics - Dr. John B. Taylor

featuring John B. Taylorvia Eventbrite
Tuesday, March 26, 2019

Join the Jon M. Huntsman School of Business, the Center for Growth and Opportunity and the broader Utah State University community in celebrating the George S. and Dolores Dore Eccles Foundation by attending the George S. Eccles Memorial Lecture in Economics on March 26, 2019 from 2:30PM-3:30PM in the Huntsman Hall Perry Pavilion on USU's Logan campus. This year’s distinguished lecturer is noted economist and scholar John B. Taylor.

In the News

The ECB And Its Watchers

mentioning John B. Taylorvia Institute for Monetary and Financial Stability
Tuesday, March 26, 2019

For the twentieth time, central bankers, financial market participants and academics will discuss current issues of monetary policy and financial stability at the conference "The ECB and Its Watchers" on March 27, 2019. Since 1999, when the European Central Bank (ECB) took up its mandate, about 400 ECB watchers from all over Europe, North America and Asia regularly come to the conference to get first-hand information and to debate with members of the ECB Governing Council, presidents from euro area central banks as well as representatives of international organizations and renowned researchers. 

In the News

This Important Fed Indicator Drives Monetary Policy – So What’s It Saying?

featuring John B. Taylorvia Speculators Anonymous
Friday, March 22, 2019

I came across something today of which I believe is the most important thing for gauging monetary policy. And the mainstream financial media isn’t even talking about it (or worse – isn’t even aware). Because of this indicator – I actually believe the Fed may begin cutting rates sooner than many expect. So what am I talking about?

Interviews

Santelli Exchange: John Taylor On The Fed

interview with John B. Taylorvia CNBC
Tuesday, March 19, 2019

Hoover Institution fellow John Taylor discusses the Fed’s balance sheet, inflation, and monetary policy.

In the News

2019 Economic Outlook

mentioning John B. Taylorvia Adam Smith Society
Tuesday, March 12, 2019

Stanford economic professor John Taylor will discuss the economic outlook for 2019.

In the News

The Taylor Rule: An Economic Model For Monetary Policy

featuring John B. Taylorvia Investopedia
Saturday, February 23, 2019

The Taylor Rule is an interest rate forecasting model invented by famed economist John Taylor in 1992 and outlined in his 1993 study, "Discretion Versus Policy Rules in Practice." It suggests how central banks should change interest rates to account for inflation and other economic conditions.

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