The Federal Reserve Bank of Minneapolis has named Dr. Kei-Mu Yi its director of research to replace Dr. Arthur J. Rolnick, who will retire July 31, 2010. Yi, currently vice president and head of Monetary and Macroeconomic Research at the Federal Reserve Bank of Philadelphia, will become senior vice president and director of research for the Federal Reserve Bank of Minneapolis on Aug. 16, 2010.
Yi joined the Federal Reserve Bank of Philadelphia in 2004, following seven years of service at the Federal Reserve Bank of New York, where he was a research officer in the Bank’s International Research unit. Prior to joining the Federal Reserve Bank of New York, he was an assistant professor of economics at Rice University. Over the years, Yi has also taught at the Wharton School of the University of Pennsylvania, as well as at Columbia University, New York University, the University of Virginia and the University of Iowa. Yi is the author of numerous journal articles on issues relating to international trade, and economic growth and development. He received a Ph.D. in economics from the University of Chicago.
“We are very lucky to have an economist of Kei-Mu’s stature and experience to lead our research efforts,” said Narayana Kocherlakota, president of the Federal Reserve Bank of Minneapolis. “His academic credentials, coupled with his prior leadership at the Federal Reserve Bank of Philadelphia, make him an excellent candidate to direct the research efforts at our Bank.”
Kocherlakota also recognized Rolnick for his 40 years of service at the Federal Reserve Bank of Minneapolis, 25 of those as director of research. “Art’s legacy here at the Bank is founded on his commitment to the highest caliber research, both from the department he led and from his own work. You don’t replace someone like Art; rather, you build on the foundation he has established over his years of dedicated service.” Upon retirement, Rolnick will become co-director of the Human Capital Research Collaborative at the Humphrey Institute, University of Minnesota.
Download a photograph of Dr. Yi. [JPG, 29k]