Press Release

Joseph Tracy to Resign from New York Fed

May 30, 2017

NEW YORK—The Federal Reserve Bank of New York today announced that Joseph Tracy, executive vice president and senior advisor to the president, will be leaving the Bank to join the Federal Reserve Bank of Dallas, effective September 1, 2017.

"Joe has been a trusted advisor to me and a valued mentor to many across the Bank during his long and distinguished career,” said William C. Dudley, president and chief executive officer of the New York Fed. “I rely on his expertise and judgment on a wide range of issues and have enjoyed collaborating with him on many of my public speeches. While Joe will be greatly missed in New York, I am delighted that Joe will continue to contribute to the System’s efforts and look forward to working with him in his new role and wish him well.”

Mr. Tracy joined the New York Fed in 1996 as a Research Officer after teaching at both Yale and Columbia Universities. At the New York Fed, he has held several positions in the Research Group, where he focused on housing and labor issues. He led the Research Group from the end of 2004 through 2009.

Mr. Tracy’s areas of research expertise include labor, housing, and urban economics, and he has authored several influential papers on the housing boom and bust and the financial crisis. He is a regular contributor to the Liberty Street Blog on topics such as mortgage refinancing, foreclosures, investor speculation and the housing bubble, and euro-area economic issues. He is also the Chair of the Regulatory Oversight Committee for the Global Legal Entity Identifier System (GLEIS).

During and following the financial crisis, Mr. Tracy led cross-Bank teams looking at potential policy actions to address problems in the housing market, including the future of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

Mr. Tracy holds a B.A. from University of Missouri and a Ph.D. in economics from the University of Chicago.

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