Michael H. Moskow
- President, Federal Reserve Bank of Chicago, 1994–2007
Michael H. Moskow was the eighth president and chief executive officer of the Federal Reserve Bank of Chicago, serving from September 1, 1994, to August 31, 2007.
Moskow received a bachelor’s degree in economics from Lafayette College in Easton, Pennsylvania, in 1959 and a doctorate in business and applied economics from the University of Pennsylvania in 1965.Moscow’s pre-Fed career spanned academia, the private sector, and government. At the beginning of his career, he taught economics, labor relations, and management at Temple University, Lafayette College, and Drexel University. Later, he joined the faculty at Northwestern University in 1993.1 He served as US trade representative beginning in 1991, and held a number of other government positions earlier in his career in the late 1960s and 1970s: undersecretary of labor at the Department of Labor; director of the Council on Wage and Price Stability; assistant secretary for policy development and research at the Department of Housing and Urban Development; and and senior staff economist with the Council of Economic Advisers. In the private sector, Moskow joined the private sector at Esmark, Inc. in Chicago in 1977, and later held senior management positions at Northwest Industries; Dart and Kraft, Inc.; and Premark International.1
He took office as Chicago Fed president in 1994.2 His views on monetary policy led him to often be considered an "inflationary hawk."3 He also worked to improve transparency of the Federal Reserve System.4 During his tenure, the Chicago Fed also completed preparation of its internal systems to help protect the US financial system from the “Y2K” threat5 to automated processes in 1999.6
Moskow retired from the Federal Reserve System in 2007.7
- 1 Federal Reserve Bank of Chicago. "Michael H. Moskow." N.d.
- 2 John M. Berry. "Chicago Fed Chief Takes a Crash Course in Banking." Washington Post, September 15, 1994.
- 3 Bloomberg News. "A Fed Banker Revives Talk of an 18th Increase in Rates." New York Times, August 23, 2006; Ros Krasny, "Chicago Fed's Hawkish Moskow to Retire in August." Reuters, January 22, 2007.
- 4 Charles Evans. "Remarks in Honor of Michael Moskow." Conference in Honor of Michael H. Moskow, Chicago Council on Global Affairs Conference Center, January 23, 2018.
- 5 "Y2K Bug National Geographic Resource Library. Last updated May 20, 2022; Robert F. Bennett. "The Y2K Problem." Science 284, no. 5413, April 16, 1999.
- 6 Paul M. Connolly. "Remarks on Y2K." Speech released from the Federal Reserve Bank of Boston, March 1, 2000.
- 7 Federal Reserve Bank of Chicago. "Chicago Fed President Announces Retirement; Search Underway for Successor." News release, January 22, 2007; "Fed's Moskow to Step Down." Wall Street Journal, January 23, 2007.