Jay Shambaugh, a George Washington University professor and former Member of the White House Council of Economic Advisers, has been appointed to succeed Diane Whitmore Schanzenbach as director of The Hamilton Project at the Brookings Institution. Shambaugh will also join the Economic Studies program as a senior fellow.
Launched in 2006, The Hamilton Project produces evidence-based policy proposals on how to create a growing economy that benefits more Americans, and provides a platform for a broad range of leading economic thinkers to introduce innovative and pragmatic policy options into the national debate.
Robert E. Rubin, one of the Project’s founders and the nation’s 70th Treasury Secretary, said: “The Hamilton Project will benefit tremendously from the depth and breadth of Jay’s involvement in economic policy at the Council of Economic Advisers. However, I must also stress how incredibly fortunate we have been to have such a superlative economist and leader, in Diane Schanzenbach, at the helm of our organization for the last two years. As she passes the torch of leadership to Jay Shambaugh, he will join a distinguished group of Hamilton Project directors including: Peter Orszag, Jason Furman, Doug Elmendorf, Michael Greenstone and Melissa Kearney.”
Shambaugh, whose appointment is effective July 31, 2017, received his PhD in economics from the University of California, Berkeley. After completing his term as a Member of the White House Council of Economic Advisers in January 2017, Shambaugh returned to his position as a professor of Economics and International Affairs at George Washington University. Schanzenbach will return to Northwestern University this fall, where she will serve as The Margaret Walker Alexander Professor and Director of the Institute for Policy Research.
“It is a tremendous honor to join The Hamilton Project and have the opportunity to build upon its legacy of promulgating policies to advance inclusive economic growth,” said Shambaugh. “I look forward to working closely with The Hamilton Project staff, and engaging the members of its esteemed Advisory Council, as we partner with our nation’s leading economists to craft evidence-based policy proposals aimed at strengthening our nation’s economy.”
Praise for Shambaugh’s appointment was offered by Jason Furman, professor of practice at the Harvard Kennedy School and former Chairman of the White House Council of Economic Advisers: “Jay Shambaugh is an outstanding economist and a truly committed policy mind. Jay played a critical role in the Obama Administration on everything from the early response to the Great Recession to the final work on climate change, traversing a wide range of issues ranging from domestic labor markets to foreign exchange rates. I am excited that he will help move The Hamilton Project forward.”
Roger Altman, a co-founder of The Hamilton Project and a former Deputy Secretary of the Treasury, offered his appreciation for Schanzenbach’s leadership: “Diane has been absolutely outstanding, in terms of both the fresh research and the policy forums she oversaw. She greatly advanced the Hamilton Project's mission of inclusive growth throughout her tenure."
In addition to Shambaugh, The Hamilton Project leadership team includes Kriston McIntosh, who serves as managing director for the Project, and Ryan Nunn, who serves as policy director and as a Brookings fellow.