Kevin Warsh

Kevin M. Warsh was sworn in as a member of the Board of Governors of the Federal Reserve System on February 24, 2006, serving until his departure on March 31, 2011. Born in Albany, New York, Warsh pursued his higher education at Stanford University, earning a bachelor’s degree with honors in public policy in 1992, with an emphasis on economics and statistics. He then attended Harvard Law School, receiving a law degree in 1995, where his studies focused on the intersection of law, economics, and regulatory policy. He furthered his understanding of market economics and debt capital markets through coursework at Harvard Business School and the Massachusetts Institute of Technology’s Sloan School of Management.

Warsh began his career in 1995 with Morgan Stanley & Co. in New York, joining the mergers and acquisitions department. In this role, he served as a financial advisor to various companies across diverse industries, including manufacturing, basic materials, professional services, and technology. He also contributed to structuring capital markets transactions and facilitating fixed income and equity financing. By February 2002, Warsh had achieved the position of vice president and executive director before transitioning to public service. He joined the administration of President George W. Bush, serving as special assistant to the president for economic policy and as executive secretary at the National Economic Council.

During his time with the Bush administration, Warsh advised the president and senior officials on US economic matters, particularly concerning capital market fund flows, securities, banking, and insurance issues. He was also a member of the President’s Working Group on Financial Markets. Following his nomination by President Bush, Warsh served on the Federal Reserve Board. In this capacity, he acted as the Board’s representative to the Group of Twenty (G-20) and as an emissary to emerging and advanced economies in Asia. He also managed the Board’s operations, personnel, and financial performance as the administrative governor. Warsh delivered several speeches during his term, including “The End of History?”, “The Federal Funds Rate in Extraordinary Times,” and “Rejecting the Requiem,” many of which addressed the Great Recession of 2007-09. He currently serves as a distinguished visiting fellow at Stanford University’s Hoover Institution and as a lecturer at its Graduate School of Business, in addition to advising several companies and serving on the board of directors of United Parcel Service.