Gary Stern was President and Chief Executive Officer of the Federal Reserve Bank of Minneapolis from March 1985 to September 2009. Stern, a native of Wisconsin, joined the Federal Reserve Bank of Minneapolis in January 1982 as senior vice president and director of research. Before joining the Minneapolis Fed, Stern was a partner in a New York-based economic consulting firm. Stern's prior experience includes seven years at the Federal Reserve Bank of New York.
Stern serves on the board of directors of the Depository Trust and Clearing Corporation, where he is Presiding Director and Chair of the Board Risk Committee. Stern is co-author of Too Big to Fail: The Hazards of Bank Bailouts, published by the Brookings Institution (2004). Stern is a member of the FDIC's Systemic Resolution Advisory Committee, the Board of the Council for Economic Education (CEE), and the Board of the Heller-Hurwicz Economics Institute at the University of Minnesota.
Stern holds an A.B. in economics from Washington University, St. Louis, and a Ph.D. in economics from Rice University, Houston. Stern is the recipient of the 2009 Visionary Award from CEE, the Distinguished Alumnus Award from Washington University's College of Liberal Arts in 2010 and the Laureates Award from Rice University in 2017.