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 Federal or foederal (archaic) may refer to: Politics General *Federal monarchy, a federation of monarchies *Federation, or ''Federal state'' (federal system), a type of government characterized by both a central (federal) government and states or ...

, 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 Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and intera ...

from

Washington University in St. Louis Washington University in St. Louis (WashU or WUSTL) is a private research university with its main campus in St. Louis County, and Clayton, Missouri. Founded in 1853, the university is named after George Washington. Washington University is r ...

, and a Ph.D. in economics from

Rice University William Marsh Rice University (Rice University) is a Private university, private research university in Houston, Houston, Texas. It is on a 300-acre campus near the Houston Museum District and adjacent to the Texas Medical Center. Rice is ranke ...

Houston Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 in ...

. 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 Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a private research university in New York City. Established in 1754 as King's College on the grounds of Trinity Church in Manhatt ...

, Washington University, and

New York University New York University (NYU) is a private research university in New York City. Chartered in 1831 by the New York State Legislature, NYU was founded by a group of New Yorkers led by then-Secretary of the Treasury Albert Gallatin. In 1832, the ...

. 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 Hamline University is a private liberal arts college in Saint Paul, Minnesota. Founded in 1854, Hamline is known for its emphasis on experiential learning, service, and social justice. The university is named after Bishop Leonidas Lent Hamline o ...

and of the

Minneapolis College of Art and Design The Minneapolis College of Art and Design (MCAD) is a private college specializing in the visual arts and located in Minneapolis, Minnesota. MCAD currently enrolls approximately 800 students. MCAD is one of just a few major art schools to offer ...

. He also serves on the board of the

Carlson School of Management The Curtis L. Carlson School of Management is the business school of the University of Minnesota, a public research university in the Twin Cities of Minneapolis and Saint Paul, Minnesota. The Carlson School offers undergraduate and graduate degr ...

at the

University of Minnesota The University of Minnesota, formally the University of Minnesota, Twin Cities, (UMN Twin Cities, the U of M, or Minnesota) is a public university, public Land-grant university, land-grant research university in the Minneapolis–Saint Paul, Tw ...

, 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.

References

External links

Minneapolis Fed biography

at the

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

Life and career

See also

References

External links