Economist of the Day

Douglas Elmendorf

Born: April 16^th, 1962

Died: N.A.

Summary: An American Economist and Politician. He received his bachelor’s degree in economics from Princeton University, and later received his doctorate in economics from Harvard University. In 1993 he began working at the Congressional Budget Office. In 1994 he was moved to the Federal Reserve Board. By 1998 he was a member of the Council of Economic Advisors. In 1999, he began working at the United States Treasury Department under Treasury Secretary George Lawrence Summers. In 2002, Elmendorf returned to the Fed as a senior economist, and lead a team of 30 economists to predict interest rates and labor market conditions. In 2007, he left the public sector to work for the Brookings Institution, an economic think tank. He also directed the Hamilton Project, an economic policy forum that focused on reducing the trade deficit and increasing free trade. Most recently, in 2009, he was appointed Director of the Congressional Budget Office, and his term only ended in 2015. 

Notable Works: Brookings Papers on Economic Activity: Spring 2008, Should America save for its old age? Population Aging, National Saving, and Fiscal Policy, The Effect of Interest Rate Changes on Household Savings and Consumption