Bachelor in Economics, College Wooster, Ohio, 1964. Doctor of Philosophy in Economics, University Michigan, 1971. Doctor of Laws (honorary), College Wooster, 2006.
Finance economist Federal Reserve Bank Kansas City, 1970—1975. Economist, division research statistics Federal Reserve Systems, Washington, 1975—1978, chief capital markets, 1978—1981, associate director, 1981—1983, deputy staff director for monetary & finance policy, 1983—1987, director, division monetary affairs, 1987—2001, secretary federal open market committee, 1987—2002, advisory to board monetary policy, 2001—2002, member board governors, 2002—2010, vice chairman, 2006—2010. Chairman Bank International Settlements Committee on the Global Finance Systems, 2006—2010.
Married Gail Kohn; children: Laura, Jeffrey.