The U.S. Commodity Futures Trading Commission (CFTC) has appointed Dr. Patrick J. Schorno as its Chief Economist. According to Odaily, Dr. Schorno will provide economic advisory support to the commission and integrate regulatory cost-benefit analysis and related research. This appointment aims to enhance economic analysis capabilities in the U.S. derivatives market, improve transparency and scientific rigor in regulatory policies, and support ongoing regulatory coordination with the U.S. Securities and Exchange Commission (SEC).
Dr. Schorno previously served as Deputy Chief Economist at the Public Company Accounting Oversight Board (PCAOB) and held positions as Executive Director at Ally Financial and Financial Economist at the Federal Reserve Bank of Richmond. His research has been published in journals such as the Journal of Banking & Finance, Journal of Financial Intermediation, and Journal of Corporate Finance.
The CFTC stated that this appointment will further enhance its economic analysis capabilities in financial regulatory policy development.