Jeremy C. Stein
|Jeremy C. Stein|
|Born||1960 (age 56–57)|
|Education||B.A. Princeton University
PhD Massachusetts Institute of Technology
|Known for||member of Board of Governors of the Federal Reserve System.|
Elias M. Stein
|Information at IDEAS / RePEc|
Jeremy C. Stein (born 1960) is the Moise Y. Safra Professor of Economics at Harvard University and investment industry consultant, a former president of the American Finance Association, and a former member of the Board of Governors of the Federal Reserve System.
Early life and education
Stein was born to a secular Jewish family, the son of mathematician Elias M. Stein and Elly Intrator. Both his parents were Jewish refugees during World War II who immigrated to the United States. In 1983, he received a B.A. in economics summa cum laude from Princeton University where he was co-captain of the men's gymnastics team, specializing in rings. In 1986, he earned a PhD in economics from M.I.T..
After serving a one-year internship at Goldman Sachs Group Inc., he became an assistant professor of finance at the Harvard Business School from 1987-1990, and finance faculty of M.I.T.’s Sloan School of Management for ten years after that. Stein rejoined Harvard in 2000.
He designed quantitative asset-management strategies for Guggenheim Partners from 2005 to 2007, was also a senior adviser to the Treasury secretary and was on the staff at the National Economic Council in 2009.
Federal Reserve Board
On December 27, 2011, President Barack Obama announced that he planned to nominate Stein to fill one of the two vacancies on the seven-member Federal Reserve Board. Stein's nomination was filibustered by Republicans in the United States Senate. On May 15, 2012, Senate Majority Leader Harry Reid motioned to invoke cloture and break the filibuster on both the nominations of Stein and of Powell. On May 17, 2012, a Senate floor vote was held on Stein's nomination with a required 60-vote threshold for confirmation. Senators voted 70-24 to confirm Stein.
On April 3, 2014 Stein announced that he would resign his position at the Federal Reserve and return to Harvard by May 28.
After the Fed
Stein is married with three children and lives in Boston. His daughter Carolyn is currently a graduate student in economics at M.I.T.
- Center for Jewish History: "AHC interview with Elly Stein" 2012 | minute 27:30| "So I am not religious even though I am nostalgic for religion...My husbands very non-religious...My son married a non-Jewish woman. My grandchildren will tell you if you ask them: I'm a little Jewish and a little Christian"
- University of St Andrews, Scotland - School of Mathematics and Statistics: "Elias Menachem Stein" by J.J. O'Connor and E F Robertson February 2010
- Center for Jewish History: "AHC interview with Elly Stein" 2012
- McGrane, Victoria; Hilsenrath, Jon (March 18, 2013). "Inside a Warier Fed, Watch the New Guy". The Wall Street Journal. pp. C1, C7.
- Wallack, Todd (27 December 2011). "Harvard professor to be nominated to Federal Reserve". Boston Globe. Retrieved 27 December 2011.
- Stevenson, Alexandra, "Former Fed Board Member to Advise Hedge Fund", New York Times, March 23, 2015. Retrieved 2015-03-24.
- Beth, Richard S., "Cloture Attempts on Nominations: Data and Historical Development", senate.gov, June 26, 2013.
- Smith, Donna, "Senate votes put Fed board at full strength", reuters.com, May 17, 2012.
- Steve Goldstein (April 3, 2014). "Jeremy Stein to resign from Federal Reserve". Market watch, Wall Street Journal. Retrieved April 3, 2014.