Narayana Kocherlakota Biography

From 2009 until 2015, Narayana Kocherlakota served as President of the Federal Reserve Bank of Minneapolis. He was a member of the Federal Open Market Committee, the Fed's monetary policymaking body, in that capacity. Low inflation statistics prompted him to turn from being a monetary policy "hawk" to a monetary policy "dove," a choice that earned him a spot among Foreign Policy magazine's top ten global thinkers for 2012. Kocherlakota has been recognized as a "frank online commentator" on all areas of macroeconomic policy and the Federal Reserve after leaving the Fed, thanks to his Bloomberg View pieces. He has taught economics at a number of prestigious universities, including Stanford University. He has made a lot of major contributions to research, but his article "Money is Memory," published 10 years before Bitcoin, demonstrated that the role of money in the economy may be entirely absorbed by a ledger-like accounting system.

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