Lael Brainard is an American business analyst and a member of the Board of Governors of the Federal Reserve System of the United States.
She is the Administrative Governor and Chair of the Committees on Financial Stability, Federal Reserve Bank Affairs, Consumer and Community Affairs, and Payments, Clearing, and Settlements at the Federal Reserve Bank of New York. She formerly served as the United States Under Secretary of Treasury for International Affairs and Counselor to the Secretary of the Treasury from 2009 until 2013. Lael Brainard was born in Hamburg, Germany, in the year 1962.
In the year 1998, Lael Brainard married her spouse, Kurt M. Campbell, an American diplomat, and businessman. In June 2014, Lael Brainard was elected to the Federal Reserve System’s Board of Governors. Dr. Brainard served as Undersecretary of the United States Department of Treasury from 2010 to 2013 and Counselor to the Secretary of the Treasury from 2009 to her election to the Board. She was a member of the Financial Stability Board and the US Representative to the G-20 Finance Deputies and G-7 Deputies during this time. Her service was recognized with the Alexander Hamilton Award.
Dr. Brainard was Vice President and Founding Director of the Global Economy and Development Program at the Brookings Institution and held the Bernard L. Schwartz Chair from 2001 to 2008, where she established a new research programme to address global economic concerns.
Dr. Brainard was President Clinton’s Deputy National Economic Adviser and Deputy Assistant. She was also President Bill Clinton’s personal representative at the G-7/G-8 summits.
Dr. Brainard worked at the Massachusetts Institute of Technology’s Sloan School of Management as an Assistant and Associate Professor of Applied Economics from 1990 to 1996. She is the editor or co-editor of several books and has authored numerous papers on a variety of economic themes. Dr. Brainard previously worked at McKinsey & Company as a management consultant. Wesleyan University awarded her a B.A. with university honors in 1983. In 1989, she graduated from Harvard University with an M.S. and a Ph.D. in economics, and she was awarded a National Science Foundation Fellowship. A White House Fellowship was also bestowed upon her. She worked at the Brookings Institution as a senior fellow from 2001 to 2009 and as Vice President and Director of the Global Economy and Development Program from 2006 to 2009.
She worked as a National Economic Adviser and Deputy Assistant to the President from 1998 to 2000. She also worked at McKinsey & Company and was a faculty member at the MIT Sloan School of Management.