Christopher Waller, executive vice president and research director at the Federal Reserve Bank of St. Louis, has been confirmed by the U.S. Senate as Federal Reserve governor. The Federal Reserve System comprises the Board of Governors along with 12 independent Reserve banks across the country. Waller will fill a currently unexpired term ending Jan. 31, 2030.
Waller taught economics for nearly 25 years before joining the St. Louis Fed in 2009. He holds a Ph.D. in economics from Washington State University, has taught at the University of Notre Dame, the University of Kentucky, and Indiana University. From 1998-2003, Waller was professor of economics and the Carol Martin Gatton Chair of Macroeconomics and Monetary Economics at the Gatton College of Business and Economics at the University of Kentucky.
“Dr. Waller’s expertise in macroeconomics and monetary policy, his strong record of leadership, and his dedication he brings to this important position all are attributes, which will serve our country well.” said Gatton College of Business and Economics Dean Simon Sheather.
Located in Washington, D.C., the Board of Governors is an independent agency of the federal government. It includes seven members whose appointments must by law yield a “fair representation of the financial, agricultural, industrial, and commercial interests and geographical divisions of the country,” the Board explains, and no two governors may come from the same Federal Reserve District. Members are nominated by the president and confirmed by the Senate.
In his new position, Waller will serve as a full-time member of the Federal Open Market Committee, which also consists of the other six Board governors, the president of the New York Fed, and a rotating group of presidents from the other regional Federal Reserve Banks. He will transition from advising on and informing monetary policy to being part of the group that sets it.
Said James Ziliak, Chair of the Gatton College's Department of Economics, "Chris Waller is a distinguished scholar on monetary policy and the role of the Fed, and was a devoted teacher to scores of students at Kentucky and other universities. His appointment to the Board of Governors is a recognition of his many accomplishments, and he will bring that expertise to great service to the nation."