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Photo of William English

William English

Senior Special Adviser to the Board General Program Support Section Office of Board Members
202-736-5645
william.b.english@frb.gov

Education

  • Ph.D., Economics, Massachusetts Institute of Technology, 1986
  • B.A., Economics and Mathematics, Yale University, 1982
Current Research Topics
  • Nontraditional Monetary Policy
  • Interest Rates and Bank Profitability
  • Senior Special Adviser to the Board

    Board of Governors of the Federal Reserve System

    2015 - present
  • Director

    Board of Governors of the Federal Reserve System

    2010 - 2015
  • Deputy Director

    Board of Governors of the Federal Reserve System

    2008 - 2010
  • Senior Associate Director

    Board of Governors of the Federal Reserve System

    2007 - 2008
  • Associate Director

    Board of Governors of the Federal Reserve System

    2006 - 2007
  • Senior Economist

    Bank for International Settlements

    2002 - 2003
  • Assistant Director

    Board of Governors of the Federal Reserve System

    2001 - 2006
  • Senior Economist

    Council of Economic Advisers

    1996 - 1997
  • Economist, Senior Economist

    Board of Governors of the Federal Reserve System

    1992 - 2001
  • Visiting Assistant Professor of Business Economics

    Graduate School of Business, University of Chicago

    1989
  • Assistant Professor of Economics

    University of Pennsylvania

    1986 - 1992
  • English, William B., J. David Lopez-Salid, and Robert J. Tetlow (2015). "The Federal Reserve's Framework for Monetary Policy: Recent Changes and New Questions," IMF Economic Review, vol. 63, no. 1, pp. 22-70.
  • English, William B., Skander J. Van den Heuvel, and Egon Zakrajsek (2014). "Interest Rate Risk and Bank Equity Valuations," Working Paper Series 14-05. Wharton Financial Institutions Center.
  • English, William B., J. David Lopez-Salido, and Robert Tetlow (2013). "The Federal Reserve's Framework for Monetary Policy: Recent Changes and New Questions," Finance and Economics Discussion Series 2013-76. Board of Governors of the Federal Reserve System (U.S.).
  • D'Amico, Stefania, William B. English, J. David Lopez-Salido, and Edward Nelson (2012). "The Federal Reserve's Large-Scale Asset Purchase Programs: Rationale and Effects," Finance and Economics Discussion Series 2012-85. Board of Governors of the Federal Reserve System (U.S.).
  • D'Amico, Stefania, William English, David Lopez-Salido, and Edward Nelson (2012). "The Federal Reserve's Large-Scale Asset Purchase Programmes: Rationale and Effects," Economic Journal, vol. 122, no. 564, pp. F415-F446.
  • D'Amico, Stefania, William English, J. Lopez-Salido, and Edward Nelson (2012). "The Federal Reserve's Large-Scale Asset Purchase Programs: Rationale and Effects," CEPR Discussion Papers 9145. Centre for Economic Policy Research.
  • English, William B., Skander J. Van den Heuvel, and Egon Zakrajsek (2012). "Interest Rate Risk and Bank Equity Valuations," Finance and Economics Discussion Series 2012-26. Board of Governors of the Federal Reserve System (U.S.).
  • English, William, Kostas Tsatsaronis, and Edda Zoli (2005). "Assessing the Predictive Power of Measures of Financial Conditions for Macroeconomic Variables," in Investigating the Relationship between the Financial and Real Economy. Basel: Bank for International Settlements, pp. 228-252.
  • Claudio Borio, William B. English, and Andrew Filardo (2003). "A Tale of Two Perspectives: Old Or New Challenges for Monetary Policy," BIS Working Papers 127. Bank for International Settlements.
  • English, William B., William R. Nelson, and Brian P. Sack (2003). "Interpreting the Significance of the Lagged Interest Rate in Estimated Monetary Policy Rules," Contributions to Macroeconomics, Vol. 3, no. 1.
  • English, William B. (2002). "Financial Consolidation and Monetary Policy," Federal Reserve Bank of New York Economic Policy Review, vol. 8, no. 1, pp. 271-284.
  • English, William B. (2002). "Interest Rate Risk and Bank Net Interest Margins," BIS Quarterly Review, December, pp. 67-82.
  • English, William B. (2000). "Comment on 'America's Historical Experience with Low Inflation'," Journal of Money, Credit, and Banking, vol. 32, no. 4, pp. 998-1006.
  • English, William B. (2000). "The Irrelevance of some Forms of Credit Constraints for Government Monetary and Debt Policy," Journal of Economics and Business, vol. 52, no. 1-2, pp. 7-30.
  • Loretan, Mico, and William B. English (2000). "Evaluating Changes in Correlations during Periods of High Market Volatility," BIS Quarterly Review, June, pp. 29-36.
  • English, William B. (1999). "Inflation and Financial Sector Size," Journal of Monetary Economics, vol. 44, no. 3, pp. 379-400.
  • English,William B. (with Federal Reserve System Study Group on Subordinated Notes and Debentures) (1999). "Using Subordinated Debt as an Instrument of Market Discipline," Staff Study 172. Board of Governors of the Federal Reserve System (U.S.).
  • Brady, Thomas F., William B. English, and William R. Nelson (1998). "Recent Changes to the Federal Reserve's Survey of Terms of Business Lending," Federal Reserve Bulletin, vol. 84, no. 8, pp. 604-615.
  • English, William B., and William R. Nelson (1998). "Bank Risk Rating of Business Loans," Finance and Economics Discussion Series 1998-51. Board of Governors of the Federal Reserve System (U.S.).
  • English, William B., and William R. Nelson (1998). "Profits and Balance Sheet Developments at U.S. Commercial Banks in 1997," Federal Reserve Bulletin, vol. 84, no. 6, pp. 391-419.
  • English, William B. (1996). "Understanding the Costs of Sovereign Default: American State Debts in the 1840's," American Economic Review, vol. 86, no. 1, pp. 259-275.
  • Cole, Harold L., James Dow, and William B. English (1995). "Default, Settlement, and Signalling: Lending Resumption in a Reputational Model of Sovereign Debt," International Economic Review, vol. 36, no. 2, pp. 365-385.
  • English, William B., and Brian K. Reid (1995). "Profits and Balance Sheet Developments at U.S. Commercial Banks in 1994," Federal Reserve Bulletin, vol. 81, no. 6, pp. 545-569.
  • English, William B., and Brian K. Reid (1994). "Profits and Balance Sheet Developments at U.S. Commercial Banks in 1993," Federal Reserve Bulletin, vol. 80, no. 6, pp. 483-507.
  • Brunner, Allan D., and William B. English (1993). "Profits and Balance Sheet Developments at U.S. Commercial Banks in 1992," Federal Reserve Bulletin, vol. 79, no. 7, pp. 649-673.
  • English, William B. (1993). "The Decline of Private Deposit Insurance in the United States," Carnegie-Rochester Conference Series on Public Policy, vol. 38, pp. 57-128.
  • Cole, Harold L., and William B. English (1992). "Direct Investment: A Doubtful Alternative to International Debt," Federal Reserve Bank of Minneapolis Quarterly Review, vol. 16, no. 1, pp. 12-22.
  • Cole, Harold L., and William B. English (1992). "Two-Sided Expropriation and International Equity Contracts," Journal of International Economics, vol. 33, no. 1-2, pp. 77-104.
  • Cole, Harold L., and William B. English (1991). "Expropriation and Direct Investment," Journal of International Economics, vol. 30, no. 3-4, pp. 201-227.
  • English, William B. (1991). "Alexander Hamilton's Market-Based Debt Reduction Plan: A Comment," Carnegie-Rochester Conference Series on Public Policy, vol. 35, pp. 105-112.
  • English, William B., Jeffrey A. Miron, and David W. Wilcox (1989). "Seasonal Fluctuations and the Life Cycle-Permanent Income Model of Consumption: A Correction," Journal of Political Economy, vol. 97, no. 4, pp. 988-991.
Last update: May 19, 2017