[Founding Interview] Who is Professor Frankel... Former White House Economic Advisor

[Asia Economy New York=Special Correspondent Seulgina Cho] Jeffrey Frankel, a professor at Harvard University's Kennedy School of Government, is a leading macroeconomics expert well-versed in international finance, currency, commodities, as well as fiscal and monetary policy.

He served as an economic advisor to the White House during the Bill Clinton administration and is also listed at the National Bureau of Economic Research (NBER). From 1992 to 2019, he was a member of the NBER Business Cycle Dating Committee, which officially declares recessions in the United States. This committee consists of eight of the most distinguished and respected scholars in the fields of macroeconomics and business cycles in the U.S.

Professor Frankel has held key positions at the Federal Reserve (Fed) and the International Monetary Fund (IMF). Born in 1952 in San Francisco, California, he graduated from Swarthmore College and earned his Ph.D. in economics from the Massachusetts Institute of Technology (MIT). Before joining Harvard Kennedy School in 1999, he was an economics professor at institutions including the University of California, Berkeley (UC Berkeley).

He also has ties to Korea. He is the husband of Professor Katherine H.S. Moon of Wellesley College, who was appointed as the inaugural Korea Chair at the Brookings Institution, one of the top think tanks in the U.S.

Earlier, in 2021, Professor Frankel delivered the keynote speech at the ‘G20 Global Financial Stability Conference’ hosted by the Ministry of Economy and Finance and the Korea Development Institute (KDI). He drew attention by warning of the ‘everything bubble’ phenomenon, where various assets such as stocks and bonds all surge simultaneously, and urged Korea to normalize its fiscal and monetary policies.

At that time, he positively evaluated Korea’s expansionary fiscal policy during the pandemic and assessed that the current fiscal deficit was at a manageable level.

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