Ethics and Economics: Making Cyclical Downturns Less Severe

Eric S. Rosengren, president and chief executive officer of the Federal Reserve Bank of Boston, delivered the Institute's fourth annual O. John Olcay Lecture on Ethics and Economics on June 27, 2018. He presented on the topic "Ethics and Economics: Making Cyclical Downturns Less Severe."

Rosengren became the Boston Fed’s 13th president and chief executive officer in July 2007. He joined the bank as an economist in the research department in 1985 and, since then, has held several senior positions there, including assistant vice president in 1989, vice president of the banking and monetary policy section of the research department in 1991, and senior vice president leading the supervision, regulation, and credit department in 2000. In 2003, he assumed the additional role of chief discount officer and in 2005 was named executive vice president. Rosengren graduated from Colby College with a BA in economics and earned MS and PhD degrees in economics from the University of Wisconsin, Madison.

The annual O. John Olcay Lecture on Ethics and Economics is held in memory of John Olcay, a longtime friend and intellectual supporter of the Institute, particularly of PIIE's work on monetary and financial policy. Olcay had a distinguished career in global finance, notably as an adviser to several of the world’s central banks on reserves and policy. The Institute is pleased to honor him with such a series endowed by his many friends and colleagues from around the world.