Fed Board Appoints Steven Kamin as Chief International Economics Adviser

The Federal Reserve said that Steven B. Kamin will officially become the director of the central bank’s chief international economic advisory division.

Kamin became acting director in August following the departure of Nathan Sheets, who led the office after almost four years and became the global head of international economics at Citigroup Inc. (C) Kamin’s appointment is effective Dec. 11, the Fed said in a statement today in Washington.

As director of the Division of International Finance, Kamin briefs Fed Chairman Ben S. Bernanke and other officials on economic developments outside the U.S. and represents the Fed at international meetings.

“Steve’s deep understanding of international economic and financial matters make him uniquely qualified to lead the division during this pivotal time for the global economy,” Bernanke said in a statement.

Kamin’s appointment completes the turnover of all three of Bernanke’s top staff advisers in the last two years. Brian Madigan, former director of the Division of Monetary Affairs, retired last year and was replaced by William English in July 2010. David Wilcox replaced David Stockton as director of the Division of Research and Statistics on Oct. 1.

Kamin -- like English, Wilcox and Bernanke -- earned his doctorate in economics from the Massachusetts Institute of Technology.

To contact the reporter on this story: Joshua Zumbrun in Baltimore at jzumbrun@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net

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