Board of Governors of the Federal Reserve System

The Federal Reserve Board on Thursday announced the appointment of Steven B. Kamin as director of the Division of International Finance, effective December 11.

The division supports the Board and the Federal Open Market Committee by providing information and analysis pertaining to economic and financial developments in foreign countries and the performance of the U.S. external sector. In addition, the division's director represents the Board at international meetings and in its contacts with foreign central banks.

"Steve's deep understanding of international economic and financial matters make him uniquely qualified to lead the division during this pivotal time for the global economy," said Federal Reserve Chairman Ben S. Bernanke.

Kamin joined the Federal Reserve Board in 1987 and was appointed to the official staff in 1999. He has been serving as acting director of the Division of International Finance since August. In his previous role as a deputy director of the division, he was responsible for monitoring and analyzing developments in international financial markets and has published research on a range of topics including global finance and monetary policy, capital flows, exchange rates, and current account imbalances. He has also served as a visiting economist at the Bank for International Settlements, a senior economist for international financial affairs at the Council of Economic Advisers, and as a consultant for the World Bank.

Kamin succeeds D. Nathan Sheets, who announced in August that he was stepping down after 18 years of service with the Federal Reserve Board, including nearly 4 years as the director of the division.

Kamin holds a bachelor's degree from the University of California at Berkeley and received a Ph.D. in economics from the Massachusetts Institute of Technology.

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