Monday, June 27, 2022
Roger W. Ferguson, Jr.
17th Vice Chair of the Federal Reserve
20th Vice Chair of the Federal Reserve
Peter G. Peterson Leadership Excellence Award Dinner
Remarks by award recipient Roger W. Ferguson, Jr. on
The Future of Global Capitalisms
John C. Williams
President & CEO, Federal Reserve Bank of New York
Chair, The Economic Club of New York
Roger W. Ferguson, Jr.
Roger W. Ferguson, Jr., is the Steven A Tananbaum Distinguished Fellow for International Economics at the Council on Foreign Relations. He is the immediate past President and Chief Executive Officer of TIAA, the leading provider of retirement services in the academic, research, medical, and cultural fields and a Fortune 100 financial services organization.
Mr. Ferguson is the former Vice Chairman of the Board of Governors of the U.S. Federal Reserve System. He represented the Federal Reserve on several international policy groups and served on key Federal Reserve System committees, including Payment System Oversight, Reserve Bank Operations, and Supervision and Regulation. As the only Governor in Washington, D.C. on 9/11, he led the Fed s initial response to the terrorist attacks, taking actions that kept the U.S. financial system functioning while reassuring the global financial community that the U.S. economy would not be paralyzed.
Prior to joining TIAA in April 2008, Mr. Ferguson was head of financial services for Swiss Re, Chairman of Swiss Re America Holding Corporation, and a member of the company's executive committee. From 1984 to 1997, he was an Associate and Partner at McKinsey & Company. He began his career as an attorney at the New York office of Davis Polk & Wardwell.
Mr. Ferguson serves on the boards of Alphabet, Inc.; Corning, Inc,; Blend Inc., and International Flavors & Fragrances, Inc. He is also active as an advisor and board member for various private fintech companies.
Mr. Ferguson is a member of the Smithsonian Institution's Board of Regents and the Norton Museum of Art. He is a fellow of the American Academy of Arts & Sciences and co-chairs its Commission on the Future of Undergraduate Education. He serves on the boards of The Conference Board, the Institute for Advanced Study, Memorial Sloan Kettering Cancer Center, and Columbia University's Teachers College, as well as other non-profit organizations. He is a fellow of the American Philosophical Society and a member of the Economic Club of New York, the Council on Foreign Relations, the Group of Thirty, and the National Association for Business Economics.
Mr. Ferguson served on President Obama's Council on Jobs and Competitiveness, as well as its predecessor, the Economic Recovery Advisory Board, and he co-chaired the National Academy of Sciences' Committee on the Long-Run Macro-Economic Effects of the Aging U.S. Population.
Mr. Ferguson holds a B.A., J.D., and a Ph.D. in economics, all from Harvard University.
Stanley Fischer took office as a member of the Board of Governors of the Federal Reserve System on May 28, 2014, to fill an unexpired term ending January 31, 2020. He was sworn in as vice chairman of the Board of Governors on June 16, 2014. He resigned on October 13, 2017.
Prior to his appointment to the Board, Dr. Fischer was governor of the Bank of Israel from 2005 through 2013.
From February 2002 to April 2005, Dr. Fischer was vice chairman of Citigroup. Dr. Fischer served as the first deputy managing director of the International Monetary Fund from September 1994 through August 2001. From January 1988 to August 1990, he was the chief economist of the World Bank.
From 1977 to 1999, Dr. Fischer was a professor of economics at the Massachusetts Institute of Technology. From 1992 to 1995, he was the Elizabeth and James Killian Class of 1926 professor. From 1973 to 1977, Dr. Fischer was an associate professor of economics at MIT. Prior to joining the MIT faculty, Dr. Fischer was an assistant professor of economics and a postdoctoral fellow at the University of Chicago.
Dr. Fischer has published many articles on a wide variety of economic issues, and he is the author and editor of several scholarly books. He has been a fellow at the Guggenheim Foundation, the American Academy of Arts and Sciences, and the Econometric Society, as well as a research associate at the National Bureau of Economic Research and an honorary fellow at the London School of Economics.
Dr. Fischer was born in Lusaka, Zambia, in October 1943. He received his BSc and MSc in economics from the London School of Economics. He received his PhD in economics from the Massachusetts Institute of Technology in 1969.
Dr. Fischer is married with three adult children.
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