Friday, December 9, 2011

Is M.I.T. Secretly Running the Fed?

EPJ's Bob English writes:

It's official: Fed led by quartet of MIT grads.

File under curious. I wonder if they all had a similar mentor whose legacy is now driving the Fed.

The Federal Reserve has just announced that Steven B. Kamin will officially become the director of Fed’s chief international economic advisory division.

Kamin became acting director in August following the departure of Nathan Sheets, who led the office after almost four years and became the global head of international economics at Citigroup Inc. Kamin’s appointment is effective Dec. 11, the Fed said in a statement today.

As director of the Division of International Finance, Kamin briefs Fed Chairman Ben S. Bernanke and other officials on economic developments outside the U.S. and represents the Fed at international meetings.

Kamin holds a bachelor's degree from the University of California at Berkeley and received a Ph.D. in economics from the Massachusetts Institute of Technology.

With this appointment, all three of Bernanke’s top staff advisers are M.I.T grads.

William English (no relation to Bob)is the director of the Division of Monetary Affairs, He also received his PhD from MIT,as did David Wilcox director of the Division of Research and Statistics.

Bernanke also received his PhD from M.I.T..


  1. Massachusetts Institute of Technocracy

  2. In other news, scientists "stunned" to learn, vultures flock together...