Steven Baker is Senior Financial Economist on our Quantitative Supervision and Research team in the Supervision, Regulation and Credit Department at the Richmond Fed. His supervisory work incorporates his background in computer science. Baker is part of a team applying natural language processing and machine learning techniques to improve ratings and supervisory feedback to financial institutions, with a particular focus on cybersecurity risk and its impact on financial stability.

Baker also researches how heterogeneous investors impact the macroeconomy in general equilibrium. His work includes studies of disagreement about disaster risk and its impact on aggregate investment, and studies of commodity price dynamics when investors with different risk appetites trade in the futures market. Baker’s work has been presented at meetings of the Western Finance Association, the NBER, etc., and published in the Journal of Financial Economics, Management Science, etc.

Before joining the Richmond Fed in 2022, Baker was an assistant professor at the University of Virginia.

Baker holds a doctorate in financial economics from Carnegie Mellon University, a master’s in computer science from the University of Virginia, and a bachelor's degree in computer science and German from Brown University.