The Chancellor of the Exchequer, Jeremy Hunt, has today (21st December) announced the appointment of Randall Kroszner as an external member of the Financial Policy Committee (FPC).
Dr Kroszner is Professor of Economics at the University of Chicago Booth School of Business. He previously served as a Governor of the US Federal Reserve System from 2006 until 2009. Dr Kroszner has expertise on financial stability and regulatory policy issues with experience in both the public sector and academia. His appointment fills the external position previously held by Anil Kashyap, who stepped down from the Committee at the end of September 2022. He will serve a three-year term, which will begin in February 2023.
The Chancellor of the Exchequer Jeremy Hunt said:
"The Financial Policy Committee is key to protecting and strengthening the UK's financial stability. I want to thank Anil Kashyap for his contribution to the work of the Committee over the past six years, especially during the pandemic.
"I am pleased to announce the appointment of Randall Kroszner. His leading academic voice in macroprudential policy, built over a decade at the University of Chicago, and his experience at the Federal Reserve during the global financial crisis will be of real value to the committee."
The Governor of the Bank of England Andrew Bailey said:
"I am delighted to welcome Randy to the FPC as an external member. His significant international policy experience and extensive research on the financial sector will be an asset to the FPC. I look forward to working with him on the Committee and benefiting from the wealth of expertise he will bring to our discussions."
