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Board of Governors of the Federal Reserve System
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Federal Reserve Board of Governors

Board Members

Lael Brainard

Photo of Lael Brainard

Lael Brainard took office as a member of the Board of Governors of the Federal Reserve System on June 16, 2014, to fill an unexpired term ending January 31, 2026.

Prior to her appointment to the Board, Dr. Brainard served as Undersecretary of the U.S. Department of Treasury from 2010 to 2013 and Counselor to the Secretary of the Treasury in 2009. During this time, she was the U.S. Representative to the G-20 Finance Deputies and G-7 Deputies and was a member of the Financial Stability Board. She received the Alexander Hamilton Award for her service.

From 2001 to 2008, Dr. Brainard was Vice President and the Founding Director of the Global Economy and Development Program and held the Bernard L. Schwartz Chair at the Brookings Institution, where she built a new research program to address global economic challenges.

Dr. Brainard served as the Deputy National Economic Adviser and Deputy Assistant to President Clinton. She also served as President Clinton's personal representative to the G-7/G-8.

From 1990 to 1996, Dr. Brainard was Assistant and Associate Professor of Applied Economics at the Massachusetts Institute of Technology's Sloan School of Management. She has published numerous articles on a variety of economic topics and is the editor or coeditor of several books.

Previously, Brainard worked in management consulting at McKinsey & Company.

She received a B.A. with university honors from Wesleyan University in 1983. She received an M.S. and a Ph.D. in economics in 1989 from Harvard University, where she was awarded a National Science Foundation Fellowship. She is also the recipient of a White House Fellowship.

Last update: December 4, 2014