The Chancellor of the Exchequer, Philip Hammond, has appointed Professor Anil Kashyap as a member of the Financial Policy Committee (FPC) increasing the number of external members to five
The appointment fills the external position on the FPC created by the Bank of England and Financial Services Act 2016.
Kashyap’s term will begin on 1 October 2016 and will last for three years.
Hammond said: ‘Anil is a highly-respected academic and is widely regarded as one of the leading experts on financial risk.
His experience and insight will play an important role over the next three years in maintaining the Financial Policy Committee’s reputation as an effective and credible macroprudential authority.’
Kashyap is the professor of economics and finance at the University of Chicago Booth School of Business where he teaches classes on central banking and financial crises.
He has previously spent three years as an economist for the board of governors for the Federal Reserve System. Kashyap is currently a consultant for the Federal Reserve Bank of Chicago and a research associate for the National Bureau of Economic Research (NBER).
