The Federal Reserve building in Washington is shown, May 4, 2021.
Carolyn Kaster/AP Photo
A chief economist to President Barack Obama, Goolsbee only became head of the Chicago Fed last month. But he’s already being talked about as a potential replacement for Brainard, since he too is perceived as dovish. He has highlighted the role that supply chain snarls have played in inflation and warned that acting too aggressively to rein in elevated prices caused by problems the Fed can’t solve could result in a recession — and still leave us with high inflation.
The Boston Fed president was closely connected to the central bank even before she took her current job last year, regularly attending the exclusive Jackson Hole conference every August. Collins, the first Black woman to head a regional Fed branch, is an international economist whose work has focused on economic growth in developing countries. She previously served as provost and head of the public policy school at the University of Michigan.
Already a member of the Fed’s board, Cook fits the mold of being sympathetic to workers and willing to question the traditional narrative that low unemployment is a problem for inflation. A former economist at Michigan State University, Cook has long explored the impact of racial injustice on the economy. She faced a bruising confirmation battle last year but was ultimately confirmed in a 51-50 vote to become the first Black woman to get a vote on interest rate policy, two months before Collins took her post in Boston.
Another economist with ties to Michigan, Stevenson previously served as an economic adviser to Obama on issues related to social policy, the job market, and trade — making her a familiar face to Bidenworld. An expert on employment and wages, she also previously served as chief economist to the Labor Department. She’s currently a professor at the University of Michigan.
The Harvard economics professor has extensive ties to the Fed, having served on the staff of its board for 17 years. But she’s also got political connections, having served as chief economist at the Treasury Department from 2014 to 2017 and as a senior economist at the White House’s Council of Economic Advisers from 2003 to 2004.
Council of Economic Advisers Chair Christina Romer briefs reporters at the White House in Washington, Feb. 11, 2010.