Donald Kohn

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Donald Kohn
Don Kohn.jpg
Vice Chairperson of the Federal Reserve System
In office
June 23, 2006 – June 23, 2010
Nominated by George W. Bush
Preceded by Roger Ferguson
Succeeded by Janet Yellen
Personal details
Born Donald Lewis Kohn
(1942-11-07) November 7, 1942 (age 72)
Philadelphia, Pennsylvania, U.S.
Spouse(s) Gail Kohn
Children Laura Kohn
Jeffrey Kohn
Alma mater College of Wooster
University of Michigan, Ann Arbor

Donald Lewis Kohn (born November 7, 1942) is an American economist who served as the former Vice Chairman of the Board of Governors of the Federal Reserve System. He is considered a moderate dove on monetary policy. He retired after 40 years at the central bank in September, 2010.

Early life and family[edit]

Kohn was born in Philadelphia and raised in Elkins Park, Pennsylvania.[1] He received a B.A. in economics in 1964 from The College of Wooster and a Ph.D. in economics in 1971 from the University of Michigan.[1] Kohn and his wife, Gail, have two children, Laura Kohn and Jeffrey Kohn.[1]

Career[edit]

Kohn is a veteran of the Federal Reserve System. Before becoming a member of the Board, he served on its staff as Adviser to the Board for Monetary Policy (2001-02), Secretary of the Federal Open Market Committee (1987-2002), Director of the Division of Monetary Affairs (1987-2001), and Deputy Staff Director for Monetary and Financial Policy (1983-87). He also held several positions in the Board's Division of Research and Statistics--Associate Director (1981-83), Chief of Capital Markets (1978-81), and Economist (1975-78). Dr. Kohn began his career as a Financial Economist at the Federal Reserve Bank of Kansas City (1970-75).

Kohn took office as a member of the Board of Governors of the Federal Reserve on August 5, 2002 for a full term ending January 31, 2016. On May 18, 2006, the White House announced that Kohn had been nominated by President George W. Bush to replace Roger W. Ferguson, Jr. as the new vice chairman of the Federal Reserve System for a four-year term. The United States Senate approved his nomination, and Kohn began serving his four-year term as Vice Chairman of the Board of Governors of the Federal Reserve System on June 23, 2006.

Upon the completion of this term as Vice-Chairman on June 23, 2010, Kohn retired from the Federal Reserve. When Kohn announced his retirement on March 1, 2010, Fed chairman Ben Bernanke said, "The Federal Reserve and the country owe a tremendous debt of gratitude to Don Kohn for his invaluable contributions over 40 years of public service." [2]

He was appointed to the Bank of England's Interim Financial Policy Committee on 17 February 2011. [3]

Economic views and honors[edit]

Kohn has written extensively on issues related to monetary policy and its implementation by the Federal Reserve. These works were published in volumes issued by various organizations, including the Federal Reserve System, the Bank of England, the Reserve Bank of Australia, the Bank of Japan, the Bank of Korea, the National Bureau of Economic Research, and the Brookings Institution.

He was awarded the Distinguished Achievement Award from The Money Marketeers of New York University (2002), the Distinguished Alumni Award from the College of Wooster (1998), and the Honorary Degree, Doctor of Laws, from the College of Wooster (2006).

References[edit]

External links[edit]

Business positions
Preceded by
Roger Ferguson
Vice Chairperson of the Federal Reserve System
2006-2010
Succeeded by
Janet Yellen