Joshua Gallin Appointed Fed Open Market Secretary

Federal Reserve

The Federal Reserve Board on Thursday announced that Joshua Gallin has been appointed secretary of the Federal Open Market Committee (FOMC), succeeding James Clouse, effective immediately.

As FOMC secretary, Gallin will advise the Committee on policy matters, and oversee the production of the Committee’s minutes, transcripts, and associated communications. Clouse will continue to serve as deputy director of the Monetary Affairs division.

Gallin began his career at the Board in 1998. He has served as special advisor to Chair Jerome H. Powell since 2019 and as senior associate director of the Board’s Division of Research and Statistics since 2016. He holds a B.A. in economics from Carleton College and a Ph.D. in economics from the University of Chicago.

“Josh has been a trusted adviser to me, offering keen insights and careful analysis on a wide range of issues,” said Federal Reserve Board Chair Jerome Powell. “He brings those same talents, as well as extensive knowledge and experience related to monetary policy and the economy, to this new role.”

Clouse was appointed FOMC secretary in November 2017. He began his career at the Board in 1989 and has been deputy director of the Monetary Affairs division since 2007. He holds a B.A. in economics from Princeton University and a Ph.D. in economics from Northwestern University.

“I am exceedingly grateful for Jim’s service to the FOMC,” said Chair Powell. “He has contributed to every part of the Committee’s work these past five years, especially in helping manage its first public review of the monetary policy framework, and in helping the Committee respond with speed and creativity to the global pandemic. His continued service will be a great benefit to our public mission,” said Chair Powell.

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