Morgan Stanley has a bang-up new Chief U.S. Economist: Vincent Reinhart.Bloomberg obtained a memo announcing the Reinhart’s new job, which begins October 1.
Reinhart is a top former Fed official. He’s also married to Carmen Reinhart, another famous economist. The duo penned a paper last summer, “After the Fall,” that said “We present evidence that the decade of relative prosperity prior to the fall was importantly fuelled by an expansion in credit and rising leverage that spans about 10 years; it is followed by a lengthy period of retrenchment that most often only begins after the crisis and lasts almost as long as the credit surge.” They delivered the conclusion of their findings last year at Jackson Hole.
Jobs he’s held in the government include:
— Secretary and economist of the Federal Open Market Committee
— Chief monetary-policy strategist at the Fed (from 2001 until 2007)
— Economist for the Federal Reserve Bank of New York
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