Chicago Fed Names Gadi Barlevy Director of Research

The Federal Reserve Bank of Chicago named Gadi Barlevy as its new executive vice president and director of research, effective June 1 [1]. Barlevy, a long-time senior economist and advisor at the bank, will step into the role following a comprehensive search to replace Anna Paulson, who left the position last year to become president and CEO of the Federal Reserve Bank of Philadelphia [2].

Barlevy has been a fixture at the Chicago Fed for more than two decades, having joined the institution in 2003 after serving as an assistant professor of economics at Northwestern University [1]. Throughout his tenure, he has focused his research on labor economics, business cycles, and asset bubbles [3]. He also served as an advisor to current Chicago Fed president and CEO Austan Goolsbee, who praised Barlevy’s influence on the bank’s research department and broader policy work [1].

Beyond his internal responsibilities, Barlevy maintains a significant academic profile. He holds a Ph.D. from Harvard University and has published extensively in journals such as the American Economic Review and the Journal of Monetary Economics [2]. He is also the author of Asset Bubbles and Macroeconomic Policy, published by MIT Press last year, and serves as a research fellow at the IZA Research Institute [1]. His editorial experience includes roles at Theoretical Economics and the Review of Economic Dynamics [3].

The appointment places a veteran researcher at the helm of the Seventh Federal Reserve District’s economic division. The Chicago Fed plays a critical role in the Federal Reserve System by contributing to the formulation of national monetary policy and supervising financial institutions across Iowa and parts of Illinois, Indiana, Michigan, and Wisconsin [2].

As Barlevy transitions into this executive role, the focus remains on how his specific expertise in asset bubbles and labor markets will shape the bank's research agenda during a period of shifting economic conditions. Whether his leadership will signal a shift in the Chicago Fed's approach to macroeconomic policy or a continuation of its established research traditions remains to be seen.