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Randall S. Kroszner (born June 22, 1962) is a former member of the Board of Governors of the Federal Reserve System of the United States. He was chairman of its Committee on Supervision and Regulation of Banking Institutions during the global financial crisis. He took office on March 1, 2006 to fill an unexpired term, and stepped down on January 21, 2009. Kroszner has been professor of economics at the University of Chicago since the 1990s, with various leaves, and named Norman R. Bobins Professor of Economics at the University of Chicago Booth School of Business in 2009, and serves as a senior advisor for Patomak Partners.
Early life and education
Kroszner was born in Englewood, New Jersey. He received his B.A. magna cum laude in applied mathematics/economics from Brown University in 1984, and his M.A. (1987) and Ph.D. (1990) from Harvard University, both in economics
Kroszner is Norman R. Bobins Professor of Economics at the University of Chicago Booth School of Business. He was also Assistant Professor (1990–1994) and Associate Professor (1994–1999) at the University before becoming a full professor in 1999. Kroszner was Director of the George J. Stigler Center for the Study of the Economy and the State and editor of the Journal of Law and Economics. He was a visiting scholar at the American Enterprise Institute, a research associate at the National Bureau of Economic Research, and a director at the National Association for Business Economics. Kroszner also was a member of the Federal Economic Statistics Advisory Committee at the Bureau of Labor Statistics in the Department of Labor.
Kroszner has been a visiting scholar at the Securities and Exchange Commission; the IMF; the Stockholm School of Economics, Sweden; the Free University of Berlin, Germany; Stockholm University, Sweden; and the London School of Economics. He was the John M. Olin Visiting Fellow in Law and Economics at the University of Chicago Law School and the Bertil Danielson Visiting Professor of Banking and Finance at the Stockholm School of Economics.
George W. Bush administration
Kroszner was a member of the President's Council of Economic Advisers (CEA) from 2001 to 2003. While at the CEA, he was heavily involved in formulating the policy response to corporate governance scandals, as well as in advising on a wide range of domestic and international issues, including banking and financial regulation, government-sponsored enterprises, pension reform, corporate governance reform, terrorism risk insurance, tax reform, currency crisis management, sovereign debt restructuring, the role of the International Monetary Fund (IMF), international trade, and economic development.
Federal Reserve career
Prior to being appointed to the Board of Governors, Kroszner served the Federal Reserve System in several roles. He was a visiting scholar at the Board of Governors and a research consultant and a member of the Academic Advisory Panel at the Federal Reserve Bank of Chicago. Kroszner also has been a visiting scholar at the Federal Reserve Banks of New York City, St. Louis, Kansas City, and Minneapolis.
- Paul Blustein (28 January 2006). "Bush Picks 2 Economists For Federal Reserve Board". The Washington Post. p. D01. Retrieved 2007-06-11.
- Kroszner, Randall S. (2008). "Corporate Governance". In David R. Henderson (ed.). Concise Encyclopedia of Economics (2nd ed.). Indianapolis: Library of Economics and Liberty. ISBN 978-0865976658. OCLC 237794267.
- Appearances on C-SPAN
- Resignation press release
- Statements and Speeches of Randy Kroszner