While designing our "How does the FOMC work?" interactive, we created a database of all 179 members past and present.
[1/12] Here's a #chartthread summarizing what we found.
Full disclaimers at the end. centralverse.org/FedWatcher/FOM…
[1/12] Here's a #chartthread summarizing what we found.
Full disclaimers at the end. centralverse.org/FedWatcher/FOM…
[2/12] Undergrad Degrees:
Econ by far the most common...but only half of all FOMC members studied Econ in undergrad, and about the same breakdown holds for just the Govs/RBPres. Shout out to Allan Sproul for studying Pomology 🍊🍎🍐
Econ by far the most common...but only half of all FOMC members studied Econ in undergrad, and about the same breakdown holds for just the Govs/RBPres. Shout out to Allan Sproul for studying Pomology 🍊🍎🍐
[3/12] Undergrad Schools:
Sure, the "Big Schools" are there, but the range of undergrad schools is shockingly large. Still waiting on an Idaho Rep!!
Sure, the "Big Schools" are there, but the range of undergrad schools is shockingly large. Still waiting on an Idaho Rep!!
[4/12] Grad Degrees:
This is where the eonomists (and to a lesser degree the lawyers) are made. Not nearly as much diversity in grad degrees as there was with undergrad.
This is where the eonomists (and to a lesser degree the lawyers) are made. Not nearly as much diversity in grad degrees as there was with undergrad.
[5/12] Grad Schools:
Harvard takes a sizable plurality, but vast majority are attending other schools.
Harvard takes a sizable plurality, but vast majority are attending other schools.
[6/12] Both Undergrad and Grad Degrees:
When combined, the economic degrees really dominate.
When combined, the economic degrees really dominate.
[7/12] Both Undergrad and Grad Schools:
One thing you cannot say about the FOMC (as a whole or in Gov or RBPres subgroups) is that they are coming from a few elite schools.
One thing you cannot say about the FOMC (as a whole or in Gov or RBPres subgroups) is that they are coming from a few elite schools.
[8/12] Pre-Fed Careers:
On the whole, there have been a few more Bankers on the FOMC than any other single career track (check the charts to see the Gov and RBPres breakdowns)...Buuuut....
On the whole, there have been a few more Bankers on the FOMC than any other single career track (check the charts to see the Gov and RBPres breakdowns)...Buuuut....
[9/12] Pre-Fed Careers Over Time:
Check out how times have changed. Where Bankers dominated the early FOMC, they are now replaced by Economists and Professor (most often of Economics). Paging @BCAppelbaum - thesis reconfirmed.
Check out how times have changed. Where Bankers dominated the early FOMC, they are now replaced by Economists and Professor (most often of Economics). Paging @BCAppelbaum - thesis reconfirmed.
[10/12] Disclaimers:
a. All data comes from the incredible @FedHistory bios - eventually I'll fill in missing data from other sources and add more fields
b. Data handtyped by yours truly so please send in errors.
c. Download full data at centralverse.org/API/Telescope
a. All data comes from the incredible @FedHistory bios - eventually I'll fill in missing data from other sources and add more fields
b. Data handtyped by yours truly so please send in errors.
c. Download full data at centralverse.org/API/Telescope
[11/12] Disclaimers:
d. Only first and last degree listed. So if they got a BS, MS, and PhD, the MS isn't included.
e. Choosing one "Pre-Fed" career was very subjective, and since I had 179 to do, I didn't spend much time thinking about it.
f. My DMs are always open.
d. Only first and last degree listed. So if they got a BS, MS, and PhD, the MS isn't included.
e. Choosing one "Pre-Fed" career was very subjective, and since I had 179 to do, I didn't spend much time thinking about it.
f. My DMs are always open.
[12/12] Checkout and share (especially with Macro101 students/teachers) our interactive graphic explaining the FOMC. centralverse.org/FedWatcher/FOM…
