Randall Kroszner

Randall S. Kroszner is the Norman R. Bobins Professor of Economics at the University of Chicago Booth School of Business. He served as a Governor of the Federal Reserve System from March 2006 until January 2009. During his time as a member of the Federal Reserve Board, he chaired the committee on Supervision and Regulation of Banking Institutions and the committee on Consumer and Community Affairs. In these capacities, he took a leading role in developing responses to the financial crisis and in undertaking new initiatives to improve consumer protection and disclosure, including rules related to home mortgages and credit cards, and was director of NeighborWorks America. He represented the Federal Reserve Board on the Financial Stability Forum (now called the Financial Stability Board), the Basel Committee on Banking Supervision, and the Central Bank Governors of the American Continent. Kroszner chaired the working party of the Organization for Economic Cooperation and Development (OECD), composed of deputy central bank governors and finance ministers, on Policies for the Promotion of Better International Payments Equilibrium. As a member of the Fed Board, he was also a voting member of the Federal Open Market Committee.

Prior to his work at the Federal Reserve, Kroszner was a member of the President’s Council of Economic Advisers from 2001 to 2003. During this time, he was at the forefront of policy responses to corporate governance scandals and provided guidance on a wide array of matters, including banking and financial regulation, government-sponsored enterprises, and international trade among others. He also serves as a senior advisor for Patomak Partners, providing counsel to financial institutions, government organizations, and central banks worldwide.

Kroszner's research interests include regulation of financial institutions, international financial crises, the Great Depression, monetary economics, corporate governance, debt restructuring and bankruptcy, and political economy. His economic views are influenced by the Chicago school of economics. He is the author of the notable book "Reforming U.S. Financial Markets: Reflections Before and Beyond Dodd-Frank" co-authored with Nobel laureate Robert J. Shiller, a text that found its way to the Washington Post’s Book World political best sellers list. Kroszner has also held visiting scholar positions at institutions including the Securities and Exchange Commission, the IMF, and the London School of Economics.

In addition to his academic and advisory roles, Kroszner is a member of the Federal Reserve Bank of Chicago’s Academic Advisory Council and of the board of advisors of the Paulson Institute. Furthermore, he is a Research Associate of the National Bureau of Economic Research and serves on the Committees on Economic Statistics and on Economic Education of the American Economics Association. He serves on the board of the Financial Management Association and of the Paulson Institute. Outside the realm of economics, Kroszner contributes his expertise as a member of the board of trustees of the Chicago Symphony Orchestra and a member of the board of directors of the Renaissance Society.

Kroszner received a Sc.B. (magna cum laude) in applied mathematics-economics (honors) from Brown University in 1984 and an M.A. (1987) and Ph.D. (1990), both in economics, from Harvard University.