Gary Hilton Stern (born November 3, 1944) is an American economist and banker. On March 16, 1985, he took office as the eleventh chief executive of the
Federal Reserve Bank of Minneapolis, and retired from the position on September 1, 2009.
Life and career
Stern was born in
San Luis Obispo, California
San Luis Obispo (; Spanish for " St. Louis the Bishop", ; Chumash: ''tiłhini'') is a city and county seat of San Luis Obispo County, in the U.S. state of California. Located on the Central Coast of California, San Luis Obispo is roughly halfwa ...
. He holds an A.B. in
economics from
Washington University in St. Louis, and a Ph.D. in economics from
Rice University,
Houston.
Stern joined the Federal Reserve Bank of Minneapolis in January 1982 as senior vice president and director of research. In August 1983, he was given the additional responsibility of serving as the Bank's chief financial officer. Before joining the Minneapolis Bank, Stern was a partner in a New York-based economic consulting firm. He has also served on the faculties of
Columbia University, Washington University, and
New York University. Stern's previous experience includes seven years at the
Federal Reserve Bank of New York
The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is responsible for the Second District of the Federal Reserve System, which encompasses the State of New York, the 12 northern counties of New ...
, where his last assignment was as manager of the domestic research department.
Stern is chairman of the board of directors of the
National Council on Economic Education
The Council for Economic Education (the new name, since 2009 January, of the National Council on Economic Education) is an organization in the United States that focuses on the economic and financial education of students from kindergarten throug ...
and of the
Northwest Area Foundation
The points of the compass are a set of horizontal, radially arrayed compass directions (or azimuths) used in navigation and cartography. A compass rose is primarily composed of four cardinal directions—north, east, south, and west—each se ...
, and he serves on the board of trustees of
Hamline University and of the
Minneapolis College of Art and Design. He also serves on the board of the
Carlson School of Management at the
University of Minnesota, and he is the treasurer of the
Minneapolis Club
The Minneapolis Club is a private club with its clubhouse at 729 Second Avenue South Minneapolis, Minnesota.
History
The Minneapolis Club was founded in 1883 by leading Minnesota business and civic leaders, including John Pillsbury and Charles ...
.
In 2004 Stern co-authored with Ron J. Feldman ''Too Big to Fail – The Hazards of Bank Bailouts'' with the foreword written by Paul A. Volcker.
See also
*
Federal Reserve System
References
External links
Minneapolis Fed biographyat the
Federal Reserve System Web site
*
Statements and speeches of Gary H. Stern
{{DEFAULTSORT:Stern, Gary H.
1944 births
Living people
20th-century American economists
21st-century American economists
American bankers
Economists from Minnesota
Federal Reserve Bank of Minneapolis presidents
Rice University alumni
Washington University in St. Louis alumni