The Federal Reserve Bank of Richmond announces the following appointments in its Research department, effective October 1:
Andreas Hornstein and Pierre-Daniel G. Sarte have been appointed as senior advisors with responsibility to advise the Bank’s president, directors and senior leadership on monetary policy, bank and financial regulation, financial markets and the economy.
Hornstein has been a vice president, specializing in macroeconomic issues. He joined the Richmond Fed in 1996 after having taught at the University of Western Ontario in Canada. Hornstein earned a doctorate in economics from the University of Minnesota and received a degree in economics from the University of Konstanz in Germany.
Sarte has been a senior economist and research advisor, focusing on business cycles, urban economics and political economy. Prior to joining the Fed in 1996, Sarte was an instructor at the University of Rochester, where he earned his master’s and doctoral degrees in economics. He received a bachelor’s degree in economics and mathematics from the University of Toronto in Canada.
The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.
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