Board of Governors of the Federal Reserve System

The Federal Reserve Board on Friday announced that Steven B. Kamin will be stepping down as director of the Division of International Finance, effective early next year. Kamin will serve as a senior adviser to the division and will retire after a successor has transitioned into the role.

Kamin began his 34-year Federal Reserve career as a research assistant at the Federal Reserve Bank of San Francisco. He joined the staff of the Federal Reserve Board in 1987 as an economist in the Emerging Market Economies section of the division. In 1995 he was presented with the Board's Special Achievement Award for his work on the Mexican financial crisis, and he was appointed to the official staff in 1999.

In his role as director, Steve oversees the division's work on monitoring and forecasting the global economy, analyzing key international issues such as movements in global financial and commodity markets, and supporting the Federal Reserve's engagement with foreign central banks and international organizations such as the Group of Seven, Group of Twenty, and Bank for International Settlements (BIS).

"Steve's friends and colleagues at the Board have benefited greatly from his insightful analysis of the global economy," said Federal Reserve Board Chair Jerome H. Powell. "During his lengthy tenure here, Steve has come to be known for his vision, leadership, energy, and quick wit."

Kamin has also served as a visiting economist at the BIS, a senior economist for the White House Council of Economic Advisers, and a consultant for the World Bank. He has published widely in the fields of international macroeconomics and finance. Kamin holds a bachelor's degree from the University of California at Berkeley and a Ph.D. in economics from the Massachusetts Institute of Technology.

The search for a successor to Kamin will begin later this year.

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