Gary H. Stern
Encyclopedia
Gary Hilton Stern 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.
. 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
, 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 and of the Northwest Area Foundation, 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
.
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.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
economist and banker. On March 16, 1985, he took office as the eleventh chief executive of the Federal Reserve Bank of Minneapolis
Federal Reserve Bank of Minneapolis
The Federal Reserve Bank of Minneapolis, located in Minneapolis, Minnesota, in the United States, covers the 9th District of the Federal Reserve, including Minnesota, Montana, North and South Dakota, northwestern Wisconsin, and the Upper Peninsula of Michigan...
, and retired from the position on September 1, 2009.
Life and career
Stern was born in San Luis Obispo, CaliforniaSan Luis Obispo, California
San Luis Obispo is a city in California, located roughly midway between San Francisco and Los Angeles on the Central Coast. Founded in 1772 by Spanish Fr. Junipero Serra, San Luis Obispo is one of California’s oldest communities...
. He holds an A.B. 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"...
from Washington University in St. Louis
Washington University in St. Louis
Washington University in St. Louis is a private research university located in suburban St. Louis, Missouri. Founded in 1853, and named for George Washington, the university has students and faculty from all fifty U.S. states and more than 110 nations...
, and a Ph.D. in economics from Rice University
Rice University
William Marsh Rice University, commonly referred to as Rice University or Rice, is a private research university located on a heavily wooded campus in Houston, Texas, United States...
, 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
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
, Washington University, and New York University
New York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
. Stern's previous experience includes seven years at the Federal Reserve Bank of New York
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 located at 33 Liberty Street, New York, NY. It is responsible for the Second District of the Federal Reserve System, which encompasses New York state, the 12 northern counties of New Jersey,...
, 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 and of the Northwest Area Foundation, and he serves on the board of trustees of Hamline University
Hamline University
-Red Wing location :Hamline was named in honor of Leonidas Lent Hamline, a bishop of the Methodist Church whose interest in the frontier led him to donate $25,000 toward the building of an institution of higher learning in what was then the territory of Minnesota. Today, a statue of Bishop Hamline...
and of the Minneapolis College of Art and Design
Minneapolis College of Art and Design
Minneapolis College of Art and Design is a private, nonprofit four-year and postgraduate college specializing in the visual arts. Located in the Whittier neighborhood of Minneapolis, Minnesota, United States, MCAD currently enrolls approximately 1,000 students offering curriculum that includes...
. He also serves on the board of the Carlson School of Management
Carlson School of Management
The school offers a bachelor's, MBA, and doctoral degrees, as well as executive education programs hosted domestically and abroad . Dual-degree programs include a JD/MBA, MD/MBA, MHA/MBA, and a MPP/MBA...
at the University of Minnesota
University of Minnesota
The University of Minnesota, Twin Cities is a public research university located in Minneapolis and St. Paul, Minnesota, United States. It is the oldest and largest part of the University of Minnesota system and has the fourth-largest main campus student body in the United States, with 52,557...
, and he is the treasurer of the Minneapolis Club
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 Loring. In its first 25 years, the club changed...
.
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.
External links
- Minneapolis 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.