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Federal
 
Reserve
Backgrounds
 
and 
 
Bios
February
 
2011
CONFIDENTIAL
 
Board
 
of 
 
Governors
Academic
 
ExperienceFed
 
/
 
Government
 
ExperienceCorporate
 
ExperienceCorporate
 
Mgmt.
 
Experience
•
BA,
 
Economics,
 
Harvard
 
1975
•
PhD,
 
Economics, MIT
 
1979
•
Professor
 
of 
 
Economics and
 
Ben
 
Bernanke
Chairman
Chairman since
 
Feb
 
1,
 
2006Governor from
 
Sep
 
02
‐
 June
 
05
u c
 
a rs,
 
r nce on,
‐
1996
•
Assistant
 
and
 
Associate
 
Professor
 
of 
 
Economics,
 
1979
‐
1985,
 
Stanford
 
Graduate
 
School
 
of 
 
Business
•
Served
 
as
 
Director
 
of 
 
the
 
Monetary
 
Economics
 
Program
 
•
Chairman of 
 
President’s
 
Council
 
of 
 
Economic
 
Advisors
 
from
 
June
 
2005
 
 – Jan
 
2006
•
None
 
noted
•
None Notedof 
 
the
 
National
 
Bureau
 
of 
 
Economic
 
Research
 
(NBER)
 
and
 
as
 
a
 
member
 
of 
 
NBER’s
 
Business
 
Cycle
 
Dating
 
Committee
Janet
 
Yellen
•
BA,
 
Economics,
 
Brown 1967
•
PhD,
 
Economics,
 
Yale
 
1971
•
Professor
 
Emeritus (Economics)
 
•
President
 
& CEO
 
of 
 
the
 
12
th
District
 
Federal
 
Reserve
 
Bank,
 
San
 
Francisco
Vice
 
Chair 
Governor since
 
Oct 
 
4,
 
2010 Governor 
 
 from
 
 Aug
 
94–Feb
 
97 
at
 
UC
 
Berkeley.
 
Faculty
 
member
 
since
 
1980
•
Assistant
 
Professor
 
of 
 
Economics,
 
1971
‐
76
•
Faculty,
 
London
 
School
 
of 
 
Economics
 
and
 
Political
 
Science,
 
1978
‐
80
•
Chairman
 
of 
 
President’s
 
Council
 
of 
 
Economic
 
Advisors
 
from
 
Feb
 
1997
 
 – Aug
 
1999
•
Chairman
 
of 
 
Economic
 
Policy
 
Committee
 
of 
 
OECD,
 
1997
‐
99
•
Economist
 
for
 
Fed
 
Board
 
of 
 
Governors,
 
1977
‐
78
•
None
 
noted
•
None
 
noted
Kevin
 
Warsh
Governor 
Governor since
 
Feb
 
24,
 
2006Resigning
 
March
 
31,
 
2011
•
AB, Public
 
Policy
 
(with
 
emphasis
 
in
 
Economics),
 
Stanford
 
1992
•
JD,
 
Harvard,
 
1995
•
Special
 
Assistant to
 
the
 
President
 
for
 
Economic
 
Policy,
 
and
 
Executive
 
Secretary
 
of 
 
the
 
National
 
Economic
 
Council,
 
2002
‐
06
•
Morgan
 
Stanley Investment
 
Banking,
 
Mergers
 
&
 
Acquisitions,
 
VP
 
and
 
Executive
 
Director,
 
1995
‐
2002
•
None
 
noted
Confidential 
3
HAYMAN
 
CAPITAL
 
MANAGEMENT,
 
LP
 
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