Eric S. Rosengren
Encyclopedia
Eric S. Rosengren took office on July 23, 2007, as the thirteenth president and chief executive officer of the Federal Reserve Bank of Boston
, serving the First District. He serves the remainder of a term that began on March 1, 2006. In 2007, he is a voting member of the Federal Open Market Committee
.
, the grandson of a Swedish immigrant. He graduated summa cum laude from Colby College
with a B.A. and highest honors in economics. He then spent one year in Australia
as a Thomas Watson Fellow. Following his year in Australia, he went to the University of Wisconsin, Madison, where he earned an M.S. in economics
in 1984 and a Ph.D. in economics in 1986.
Rosengren has held senior positions within the Federal Reserve in both the research and bank supervision functions. He joined the Federal Reserve Bank of Boston in 1985 as an economist in the Research Department. He was promoted to Assistant Vice President in 1989 and to Vice President in 1991 as head of the Banking and Monetary Policy section of the Research Department. In 2000, he was named Senior Vice President and head of the Supervision and Regulation Department. He assumed the additional title of Chief Discount Officer in 2003, and in 2005, he was named Executive Vice President. While in the bank supervision function, he obtained significant domestic and international regulatory experience related to the Basel II
Capital Accord.
In his work as an economist, Rosengren has made the link between financial problems and the real economy a focus of his research, and he has published extensively on macroeconomics, international banking, bank supervision, and risk management. He has been an author on over 100 articles and papers on economics and finance, including articles in many of the top economics and finance journals.
He and his wife, Teruni, have a son, Michael, and daughter, Marina.
Federal Reserve Bank of Boston
The Federal Reserve Bank of Boston, commonly known as the Boston Fed, is responsible for the First District of the Federal Reserve, which covers most of Connecticut , Massachusetts, Maine, New Hampshire, Rhode Island and Vermont. It is headquartered in the Federal Reserve Bank Building in Boston,...
, serving the First District. He serves the remainder of a term that began on March 1, 2006. In 2007, he is a voting member of the Federal Open Market Committee
Federal Open Market Committee
The Federal Open Market Committee , a committee within the Federal Reserve System, is charged under United States law with overseeing the nation's open market operations . It is the Federal Reserve committee that makes key decisions about interest rates and the growth of the United States money...
.
Life and career
Rosengren was in Ridgewood, New JerseyRidgewood, New Jersey
Ridgewood is a village in Bergen County, New Jersey, United States. As of the 2010 United States Census, the village population was 24,958. Ridgewood is an affluent suburban bedroom community of New York City, located approximately northwest of Midtown Manhattan.The Village of Ridgewood was...
, the grandson of a Swedish immigrant. He graduated summa cum laude from Colby College
Colby College
Colby College is a private liberal arts college located on Mayflower Hill in Waterville, Maine. Founded in 1813, it is the 12th-oldest independent liberal arts college in the United States...
with a B.A. and highest honors in economics. He then spent one year in Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
as a Thomas Watson Fellow. Following his year in Australia, he went to the University of Wisconsin, Madison, where he earned an M.S. in economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
in 1984 and a Ph.D. in economics in 1986.
Rosengren has held senior positions within the Federal Reserve in both the research and bank supervision functions. He joined the Federal Reserve Bank of Boston in 1985 as an economist in the Research Department. He was promoted to Assistant Vice President in 1989 and to Vice President in 1991 as head of the Banking and Monetary Policy section of the Research Department. In 2000, he was named Senior Vice President and head of the Supervision and Regulation Department. He assumed the additional title of Chief Discount Officer in 2003, and in 2005, he was named Executive Vice President. While in the bank supervision function, he obtained significant domestic and international regulatory experience related to the Basel II
Basel II
Basel II is the second of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on Banking Supervision...
Capital Accord.
In his work as an economist, Rosengren has made the link between financial problems and the real economy a focus of his research, and he has published extensively on macroeconomics, international banking, bank supervision, and risk management. He has been an author on over 100 articles and papers on economics and finance, including articles in many of the top economics and finance journals.
He and his wife, Teruni, have a son, Michael, and daughter, Marina.
External links
- Boston Fed biography
- Federal Reserve Bank biography
- Biography at the Federal Reserve SystemFederal Reserve SystemThe Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913 with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907...
Web site.