Reinhart has also serves on the advisory board of the New York Federal Reserve
Washington — The World Bank on Wednesday named former Bear Stearns executive Carmen Reinhart as its new vice-president and chief economist, tapping an expert on financial crises who also serves on the advisory board of the New York Federal Reserve.
Reinhart, now a professor at Harvard University, published a book, This Time is Different: Eight Centuries of Financial Folly, together with economist Kenneth Rogoff of Harvard University in 2009. Reinhart has said the global economic recovery “is unlikely to be V-shaped, and we’re unlikely to return to the pre-pandemic world”.
Reinhart has a PhD from Columbia University and teaches international economics at the Harvard Kennedy School. She has also worked at the Peterson Institute for International Economics, International Monetary Fund and the University of Maryland.The bank said Reinhart’s areas of expertise included international capital flows, finance, and macroeconomics, the economies of Asia and Latin America, banking and sovereign debt crises, currency crashes, and contagion.
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