After two years of serving as special adviser to the Federal Reserve Board, Professor Jon Faust is preparing to return to the School of Arts and Sciences.
Faust, the school’s Louis J. Maccini Professor of Economics and director of its Center for Financial Economics, was tapped by former Federal Reserve Chairman Ben S. Bernanke in 2011 to contribute to the monetary policy process and to staff the Federal Open Market Committee’s subcommittee on communications. Faust will continue his work with the Fed under newly confirmed Chairman Janet Yellen, but he will teach a course at Johns Hopkins this spring and return fulltime in the fall semester.
Faust was granted a public service leave of absence, given to faculty members who have been asked to contribute their expertise to institutions of government.
“The Federal Reserve calls upon the nation’s most prominent economists for public service, and we are honored that they chose one of our faculty members for this important role,” said Katherine Newman, dean of the Krieger School of Arts and Sciences. “Now that Jon is returning to Hopkins, our students will benefit from his recent experiences with the Fed.”
In Faust’s absence, two co-directors have managed the Center for Financial Economics: Robert Barbera and Jonathan Wright. Barbera—a graduate of the Krieger School and nationally renowned economist—is a fellow in the Center for Financial Economics, and Wright is a professor in the Department of Economics.
“Bob and Jonathan have done an extraordinary job of carrying on the important work of our Center for Financial Economics,” said Newman. “They have contributed greatly to the CFE since its inception, and have readily shared their years of expertise in finance and economic research with our students. I am grateful for their work.”
Stay tuned: Dean Newman will share more details about the work Professor Faust has been doing at the Fed and about the Center for Financial Economics later this month in her electronic newsletter.