Advisory Board Member
Richard served as the first director of the Office of Financial Research (OFR) from 2013 until 2017. He was counsellor to the Secretary of the Treasury from 2011 to 2013. He was a managing director, chief US economist at Morgan Stanley from 1999 to 2011 and co-head of Global Economics from 2008 to 2011. He co-directed the Federal Reserve’s model-based forecast and was a member of the team that developed the Fed’s first multi-country model used for international policy analysis (1972-80). Richard has been a member of the Economic Advisory Panel of the Federal Reserve Bank of New York, a member of the Panel of Economic Advisers of the Congressional Budget Office, and a member of the Executive Committee of the Board of Directors of the National Bureau of Economic Research.