Kevin Warsh

Shepard Family Distinguished Visiting Fellow in Economics
Biography: 

Kevin Warsh serves as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution and lecturer at the Stanford Graduate School of Business.

He advises several private and public companies, including service on the board of directors of UPS.  Warsh is a member of the Group of Thirty (G30).  

Warsh conducts extensive research in the field of economics and finance.  He issued an independent report to the Bank of England proposing reforms in the conduct of monetary policy in the United Kingdom.  Parliament recently adopted the report’s recommendations.

Governor Warsh served as a member of the Board of Governors of the Federal Reserve System from 2006 until 2011.  Warsh served as the Federal Reserve's representative to the Group of Twenty (G-20) and as the Board's emissary to the emerging and advanced economies in Asia. In addition, he was Administrative Governor, managing and overseeing the Board's operations, personnel, and financial performance.

Prior to his appointment to the Board, from 2002 until 2006, Warsh served as Special Assistant to the President for Economic Policy and Executive Secretary of the White House National Economic Council.  Previously, Warsh was a member of the Mergers & Acquisitions department at Morgan Stanley & Co. in New York, serving as Vice President and Executive Director.

Warsh received his A.B. from Stanford University, and his J.D. from Harvard Law School.

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Recent Commentary

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How the World Recovered: The 2008 Financial Crisis Ten Years Later

interview with George Osborne, Kevin Warshvia Uncommon Knowledge
Wednesday, October 17, 2018

AUDIO ONLY

Analyzing the Global Financial Crisis and Its Aftermath in the United States and the United Kingdom with Kevin Warsh and George Osborne.

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How The World Recovered: The 2008 Financial Crisis Ten Years Later

interview with Kevin Warsh, George Osbornevia Uncommon Knowledge
Wednesday, October 17, 2018

Analyzing the global financial crisis and its aftermath in the United States and the United Kingdom with Kevin Warsh and George Osborne.

Featured

The Fault Lies In R-Star And In Ourselves

by Kevin Warshvia The Wall Street Journal
Tuesday, September 25, 2018

[Subscription Required] Today, the idea most in vogue in central-bank circles is something called “r-star”—the neutral real interest rate at which monetary policy is neither accommodative nor restrictive. Many policy makers and academics now recommend setting Fed interest rates principally by determining r-star. But like many great theoretical insights—this one originally offered by Swedish economist Knut Wicksell in 1898—r-star has been pushed well beyond its practical utility.

American Enterprise Institute Remarks: The Knowledge Problem

by Kevin Warsh
Thursday, June 7, 2018

I am honored to be here alongside my Chairman, Ben Bernanke. Ben was the academic star whose remarkable leadership attributes emerged during our nation’s darkest days. And I was fortunate to be at Ben’s side, tasked with distilling market signals and leading a SWAT team of immensely talented, tireless Fed professionals.

Analysis and Commentary

Priorities On The Path To Normalization

by Kevin Warshvia CATO Journal
Tuesday, May 8, 2018

I was honored to serve as a governor of the Federal Reserve System during the financial crisis. The times were tough, but the institution was strong—sustained by a Fed staff that was tired and tireless, hopeful and humble, brilliant without bravado.

Bitcoins
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The Meaning Of Bitcoin’s Volatility

by Kevin Warshvia Wall Street Journal
Wednesday, March 7, 2018

Cryptocurrency may be a leading indicator for traditional assets such as stocks, bonds and credit.

Priorities on the Path to Normalization

by Kevin Warshvia Cato Institute
Thursday, November 16, 2017

I was honored to serve as a governor of the Federal Reserve during the crisis. The times were tough. But the institution was strong. And sustained by a Fed staff that was tired and tireless, hopeful and humble, brilliant without bravado.

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Time to Get Growing

by John F. Cogan, R. Glenn Hubbard, John B. Taylor, Kevin Warshvia Hoover Digest
Monday, October 23, 2017

Weak economic performance is not inevitable. 

Long-Term Issues For Central Banks

by Jaime Caruana, Kevin Warshvia Bank for International Settlements
Wednesday, August 9, 2017

The global political, economic and financial landscape is constantly evolving. Some of the changes may prove short-lived. But others may be slow-moving and persistent, and only detectable over time as evidence accumulates. Although central banks’ day-to-day operations and policymaking tend to focus on near- or medium-term developments, longer-term trends and structural changes will at some point come into the picture – not least because of their impact on the economic relationships that are central to policy formulation and analysis.

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On The Prospects For Higher Economic Growth

by John F. Cogan, R. Glenn Hubbard, John B. Taylor, Kevin Warshvia Analysis
Tuesday, July 18, 2017

Hoover and AEI economists release white paper on comprehensive economic policy reforms to achieve 3 percent growth.

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