Central Banks Seek U.S. Policy Experts for Senior Roles Amid Pandemic

Central banks across Europe are actively recruiting individuals with experience in U.S. policy-making for senior positions. According to Jin10, since the onset of the pandemic, there has been a notable trend in high-level appointments within major financial institutions, characterized by officials who have spent significant time working in the United States, primarily within the Federal Reserve system. Recently, the Central Bank of Turkey appointed Gazi Isak Kara as the new deputy governor, following the hiring of Chief Economist Murat Tasci just weeks earlier. In October last year, David Lopez-Salido took on the role of deputy governor at the Bank of Spain. Switzerland and Italy have also seen similar noteworthy appointments. These officials have previously worked within the U.S. Federal Reserve network, either at regional branches or the Washington headquarters, before returning to their home countries to assume senior policy positions.