MIT Sloan professor Kristin Forbes has been appointed as an external member of the U.K. Monetary Policy Committee (MPC) by Chancellor of the Exchequer George Osborne. In this role, she will hold one of the nine votes that determine the country’s monetary policy.
In announcing the appointment, Osborne said, “Monetary policy plays a critical role in our long-term economic plan, delivering economic security to hardworking people. Forbes is an economist of outstanding ability with real practical experience of policy making. She will make an exceptionally strong addition to the MPC. It’s a sign of the high regard in which the Bank of England and our monetary framework are held around the world that someone of Kristin’s ability wishes to be part of them.”
Forbes is currently the Jerome and Dorothy Lemelson Professor of Management at MIT Sloan. Her research focuses on policy issues in international macroeconomics. Recent projects have included work on capital flows, financial crises, and contagion.
Forbes, who earned her PhD in economics at MIT Sloan, has won multiple teaching awards during her time on the faculty.
From 2003 to 2005, Forbes served as the youngest-ever member of the White House Council of Economic Advisers. She has also worked at the U.S. Treasury, the World Bank, and Morgan Stanley. She is on the Panel of Economic Advisers for the Congressional Budget Office and the Academic Advisory Board for both the Peterson Institute for International Economics and the Center for Global Development. She is a member of the Council on Foreign Relations and a research associate at the National Bureau of Economic Research.
Forbes will serve a three-year term on the MPC but maintain a part-time affiliation with MIT as her time permits.