President Obama said Monday he would nominate Kathryn Dominguez, professor of public policy and economics, to serve on the Board of Governors of the Federal Reserve System.
Dominguez, who also is a research associate at the National Bureau of Economic Research, begins service as associate dean for academic affairs at the Gerald R. Ford School of Public Policy this fall.
“Professor Dominguez is a renowned scholar and teacher with a well-deserved reputation as one of the world’s leading experts on global financial markets. I am pleased and proud that she’s been invited to join the nation’s top monetary policymaking body,” said U-M President Mark Schlissel.
“Kathryn joins a long tradition of University of Michigan faculty lending their expertise at the highest levels of service in Washington, D.C., shaping public policy and strengthening communities.”
Dominguez’s current research examines the reasons for the U.S. economy’s slow recovery from the Great Recession, including the role of global economic developments. She has written numerous articles on foreign exchange rate behavior and is author of “Exchange Rate Efficiency and the Behavior of International Asset Markets and Does Foreign Exchange Intervention Work?” with Jeff Frankel.
Dominguez joined the U-M faculty in 1997. Prior to that, she taught at the Kennedy School of Government at Harvard. She has also taught at the Woodrow Wilson School of Public and International Affairs, London School of Economics and Goldman School of Public Policy at the University of California, Berkeley.
She worked as a research consultant for the Federal Reserve System, International Monetary Fund, World Bank and Bank for International Settlements.
She has been a visiting scholar at a number of central banks including the Federal Reserve Board, European Central Bank, Swiss National Bank, Reserve Bank of Australia, Bank of Italy, Norwegian Central Bank, Bank of Spain and Bank of the Republic Colombia.
At the Ford School, Dominguez teaches macroeconomics and international finance. She received her Ph.D. in economics from Yale University.
If confirmed, Dominguez will become the second faculty member of both the Ford School and Department of Economics in LSA to serve on the Board of Governors. Edward Gramlich was a member of the Board of Governors from 1997 to 2005 and chaired the Committee on Consumer and Community Affairs.
The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system.
The seven members of the Board of Governors of the Federal Reserve System are nominated by the president and confirmed by the U.S. Senate.
