The Brookings Institutions, a Washington-based think tank, announced Monday that Federal Reserve Vice Chairman Donald Kohn will join the firm after he retires from the central bank this year.
Kohn, 67, will become a senior fellow at Brookings in mid-September. Wednesday is his last day at the Fed, where he is expected to be replaced by Janet Yellen, the head of the San Francisco Fed who was nominated by President Obama to take over Kohn’s spot. She has been approved by the Senate Banking Committee and awaits a final vote by the full Senate.
Kohn, who holds a doctorate in economics from the University of Michigan, is also widely published on Fed policy and on macroeconomic issues. Kohn began his career as a financial economist at the Federal Reserve Bank of Kansas City in 1970 and was a longtime director of the Division of Monetary Affairs at the Fed from 1987-2001.
He was a central figure at the Fed during the financial crisis, serving as one of Fed Chairman Ben Bernanke's key advisers.